Bloomberg ETF analyst Eric Balchunas stated in his statement that he had heard about the SEC's Bitcoin (BTC) Spot ETF approvals.
According to Balchunas, the SEC's Trading and Markets Division met with exchanges this week about Bitcoin Spot ETF 19b-4 forms and asked them to use the cash generation method instead of the in-kind method.
In addition, he asked to make changes to his applications in the coming weeks. According to Balchunas, this is not an unexpected development, but it is a positive sign for approval.
In a 'cash creation' transaction, the ETF takes the cash and uses it to purchase the necessary assets. In contrast, 'in-kind' contributions involve the transfer of the assets themselves.
*This is not investment advice.