The U.S. SEC has delayed the approval of multiple cryptocurrency ETF applications and is seeking feedback, including BlackRock's Bitcoin ETF physical purchase mechanism

2025-05-14 08:01:53

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ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) announced it will delay its decision on BlackRock's Bitcoin ETF physical subscription mechanism and has begun soliciting public opinions. If approved, this mechanism would allow investors to directly subscribe and redeem ETF shares with Bitcoin instead of cash, enhancing trading efficiency.

The rule amendment submitted by Nasdaq in January shows that the iShares Bitcoin Trust intends to adopt this model, but the SEC has previously favored a cash settlement mechanism. On the same day, the SEC also delayed the approval of Grayscale Litecoin Trust and Grayscale Solana Trust, requesting public input. On Tuesday, the SEC also sought public opinions on the 21Shares Dogecoin ETF.

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