Six ETF issuers submitted a physical redemption amendment for Crypto Assets ETFs, conveying a "positive signal" from the SEC.

PANews reported on July 23 that 21Shares, Fidelity, Franklin Templeton, Galaxy, VanEck, and WisdomTree submitted amended proposals to the U.S. SEC on Tuesday, requesting permission for their Spot Bitcoin and Ethereum ETFs, as well as future Crypto Assets ETFs, to adopt a physical subscription and redemption mechanism. Analysts believe this move indicates that the SEC's attitude toward the approval of Crypto Assets ETFs is turning positive. Bloomberg ETF analyst James Seyffart stated: "More positive signals indicate that the U.S. SEC is showing positive movement and is likely making detail adjustments." Seyffart added that this mechanism is only applicable to "authorized participants," such as large Wall Street institutions and market makers—rather than retail traders—who can exchange their ETF shares for the underlying assets.