Bloomberg analyst: Bitcoin and Ethereum ETFs approved, physical subscription and redemption mechanism shows positive signals

Odaily News Bloomberg ETF analyst James Seyffart wrote that recently, five CBOE-listed funds submitted revised documents to the SEC, indicating that the regulator is actively communicating and adjusting details with the fund parties, which may pave the way for the physical subscription and redemption mechanism.
It is worth noting that this mechanism is only available to authorized participants (such as large Wall Street institutions and market makers), and ordinary investors cannot directly redeem ETF shares for Bitcoin or Ethereum spot assets.