US SEC Delays Decision on Bitwise Crypto ETF Physical Redemption Application

The US SEC has announced an extension to the review period for Bitwise's spot Bitcoin and Ether ETF physical redemption proposal. If approved, investors will be able to directly redeem $BTC or $ETH assets. The proposal is currently pending review on the NYSE Arca, and the SEC stated that it needs more time to assess the related rule changes and potential issues. The physical redemption method may affect tax treatment. (Cointelegraph) [Odaily Planet Daily News]