Cboe Applies to SEC for Physical Redemption of Invesco Galaxy Bitcoin and Ethereum ETFs

Odaily News Cboe BZX Exchange has filed a rule change application with the U.S. Securities and Exchange Commission (SEC) to allow physical creation and redemption of the Invesco Galaxy Spot Bitcoin ETF and Ethereum ETF.
This mechanism allows authorized participants to directly exchange ETF shares using Bitcoin or Ethereum instead of cash transactions, thereby reducing bid-ask spreads, reducing transaction costs, and avoiding additional brokerage commissions. However, ordinary investors still need to trade ETFs in cash.
Currently, the SEC has opened a public comment period, and relevant stakeholders can submit feedback before the final decision. (Decrypt)