The U.S. Securities and Exchange Commission (SEC) has decided to take more time to review a plan from NYSE Arca about the Bitwise Bitcoin ETF Trust (BITB) and Bitwise Ethereum ETF (ETHW). The SEC said it is extending the deadline from July 25, 2025 to September 8, 2025, since it needs extra time to think about the changes.
The plan they are looking at is called the “in-kind” model. This would let Authorized Participants directly give access to Bitcoin or Ethereum via ETF. This is similar to how traditional commodity ETFs work and is meant to make things smoother and easier by reducing mistakes or delays.
Several competing asset managers, including 21Shares, Fidelity, WisdomTree, BlackRock, and VanEck, have also submitted similar requests for in-kind creation and redemption capabilities for their crypto ETFs.
Despite the delays, industry experts are optimistic, saying it’s unlikely the SEC will completely reject the plans. SEC Commissioner Hester Peirce is also hopeful, saying that using the “in-kind” method for crypto ETFs will happen eventually.
This shows that people are becoming more open to new ways of handling cryptocurrency investments. The extra time given to the SEC until September will help them review carefully about how the in-kind model might work, which could change how crypto ETFs are managed in the U.S.
Many people, including investors and companies, are watching closely because this decision could affect how widely digital assets are used for official investment options.
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