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

Odaily Planet Daily News Cboe BZX Exchange has submitted a rule change application to the U.S. Securities and Exchange Commission (SEC), intending to allow the Invesco Galaxy Spot Bitcoin ETF and Ethereum ETF to be physically created and redeemed.
This mechanism allows authorized participants to directly use Bitcoin or Ethereum to exchange ETF shares 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 mode.
Currently, the SEC has opened a public comment period, and relevant stakeholders can submit feedback before the final decision. (Decrypt)