When asked whether the SEC would allow the creation and redemption of Bitcoin ETFs in kind rather than cash, Peirce stated that this process is currently ongoing and that "it seems to be on the horizon at some point."

Peirce stated that he could not make a clear assessment, but emphasized that there is intense interest in this matter.
Many firms, including BlackRock, have been pressuring the SEC for months to allow trading in Bitcoin ETFs not only in cash but also in BTC.
https://www.gate.com/live_share/73817408a9e84b1cae009d3e7355d5b8
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#Kevin Lee Joins Gate Square#