US SEC delays ruling on Bitwise crypto ETF physical redemption application

Odaily News The US SEC announced that it would extend the review period for the Bitwise spot Bitcoin and Ethereum ETF physical redemption proposal. If approved, investors will be able to redeem BTC or ETH assets directly. The proposal is currently pending review at NYSE Arca, and the SEC said it needs more time to evaluate relevant rule changes and potential issues. Physical redemption may affect tax treatment. (Cointelegraph)