The European Central Bank (ECB) previously stated that Stablecoins might trigger a bank run. In response, the European Commission's report published on 6/25 emphasized that Stablecoin risks remain under control under the Crypto Assets Market Regulation (MiCA).
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ToggleECB Warns that Cross-Border Stablecoin Issuance May Weaken Supervision
[The rest of the translation follows the same professional and precise approach, maintaining the specified cryptocurrency term translations]ToggleWhy In-Kind Redemption is Important, SEC is Actively Reviewing
The in-kind redemption mechanism allows authorized participants (such as securities firms) to directly choose cryptocurrencies during redemption, instead of cash settlement. For authorized participants, this not only achieves tax-saving effects but also reduces institutional operational costs of the fund. As early as February this year, the SEC publicly sought market opinions on Bitcoin (BTC) and Ethereum (ETH) spot ETFs to discuss whether to allow "in-kind creation and redemption".
Hester Peirce, known as the "Crypto Mom" of the SEC, also stated at the "2025 Bitcoin Policy Summit" in Washington on 6/25: "In-kind redemption is currently under review."
(Crypto Mom Hester Peirce: Bitcoin ETF In-Kind Redemption Mechanism "Already in Review Process")
Dogecoin and APT ETF Proposed at the Beginning of the Year, Currently Revising Application
Bitwise submitted a Dogecoin ETF S-1 registration application to the SEC in January this year and submitted an APT ETF application in March. Both applications are currently in the "application revision" stage. This is a key step in the ETF review process, where applicants can modify the ETF structure, mechanism, and information disclosure based on SEC feedback.
Trump Drives Crypto Industry Development, 72 Crypto ETFs Pending Approval in 2025
Since returning to the White House in January, Trump has repeatedly emphasized making the United States the "global cryptocurrency capital". Not only has he established a dedicated working group through executive orders and appointed former PayPal executive David Sacks as the US "AI Crypto Czar", but he is also planning to sign an executive order to stop Chokepoint 2.0, supporting the crypto industry against bank discrimination, effectively accelerating policy development and capital market integration for the crypto industry.
According to Bloomberg analyst Eric Balchunas' Twitter (X) post on 4/21, 72 crypto ETFs are currently waiting for SEC approval, including ETFs for XRP, Litecoin, SOL, and Penguins that are under review.
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
