Bitwise Updates DOGE and APT ETF Filings with In-Kind Redemptions
Bitwise has amended its filings for Dogecoin (DOGE) and Aptos (APT) exchange-traded funds (ETFs) to include in-kind redemptions. This update enhances the tax efficiency and investor appeal of these proposed funds. The Securities and Exchange Commission (SEC) has previously expressed interest in this redemption method for Bitcoin and Ether ETFs.
The Benefits of In-Kind Redemptions
In-kind redemptions enable investors to swap ETF shares directly for the underlying cryptocurrencies. This approach offers tax advantages and broadens the funds’ attractiveness. SEC Commissioner Hester Pierce recently confirmed that crypto ETFs with in-kind redemptions are likely coming soon.
Market Impact and Regulatory Landscape
Solomon Tesfaye from Aptos Labs described ETF approval as transformative for blockchain integration with traditional finance. Currently, over 70 cryptocurrency ETFs await SEC review, signaling growing institutional adoption. Some critics maintain these funds could compromise crypto’s decentralized nature.
- Bitwise revised its Dogecoin ETF proposal
- Aptos ETF potential to reshape markets
- 70+ crypto ETF applications pending SEC review
