VanEck ETFs Eye Swapping Ethereum for Shares Sans Cash
Published Date: 7/25/2025
Notice
Summary
The Cboe BZX Exchange wants to change the rules for the VanEck Bitcoin and Ethereum ETFs so investors can swap actual crypto assets instead of just cash when buying or selling shares. This move could make trading smoother and possibly save money for folks investing in these ETFs. The SEC is reviewing the change now, with decisions and comments happening through mid-2025.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
In-kind Creations for Bitcoin ETF
If you invest in the VanEck Bitcoin ETF, the Exchange proposes allowing authorized participants to create or redeem shares by delivering or receiving bitcoin instead of cash. Creations and redemptions would occur in blocks of 25,000 shares (a "Creation Basket") and purchase orders must be placed by 4:00 p.m. ET on a business day. The SEC is reviewing the proposal and is accepting comments through August 15, 2025.
In-kind Creations for Ethereum ETF
If you invest in the VanEck Ethereum ETF, the Exchange proposes allowing authorized participants to create or redeem shares by delivering or receiving ether instead of cash. Creations and redemptions would occur in blocks of 25,000 shares (a "Creation Basket") and purchase orders must be placed by 4:00 p.m. ET on a business day. The SEC is reviewing the proposal and is accepting comments through August 15, 2025.
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