- The SEC has delayed rulings on in-kind crypto ETF structures, pushing key decisions for Bitcoin and Ethereum funds to June 3, 2025.
- New SEC Chair Paul Atkins brings hope for crypto innovation as delays continue on ETFs tied to Ethereum staking and major altcoins.
- June 2025 is shaping up as a turning point for U.S. crypto ETFs, with potential reforms that could reshape institutional market access.
Eleanor Terrett claims that the U.S. Securities and Exchange Commission (SEC) has postponed making decisions on a number of significant crypto ETF submissions. Notably, it delayed its decision regarding in-kind creations and redemptions for the Ethereum and Bitcoin spot ETFs offered by VanEck and WisdomTree.The new deadline is now June 3. This move adds to the growing list of delays on crypto-related financial products.
In-kind transactions allow investors to exchange Bitcoin or Ethereum directly, without converting into cash. This process avoids taxable events, preserves market liquidity, and supports price stability. However, the SEC has long resisted this mechanism. Under Gary Gensler’s leadership, the agency demanded cash-only processes for crypto ETFs.
New Leadership, New Possibilities
The recent appointment of Paul Atkins as SEC Chair may shift the regulatory outlook. Confirmed on April 9, Atkins is widely seen as pro-innovation. He often opposed excessive restrictions and advocated for balanced market oversight. His leadership is now fueling optimism across the digital asset space.
Besides the WisdomTree and VanEck filings, the SEC also delayed decisions on Grayscale’s Ethereum staking ETF. Additionally, filings involving altcoins such as XRP, Solana, Dogecoin, and Litecoin remain under review. Grayscale and Bitwise have submitted new proposals, but approvals remain uncertain.
June 2025: A Crucial Timeline
June 2025 is shaping up to be pivotal for the future of crypto ETFs in the U.S. The SEC’s upcoming decisions could redefine market dynamics. A green light on in-kind creations could attract more institutional players. It would also reduce friction and improve fund efficiency.
Moreover, the agency has recently approved options trading for Ethereum spot ETFs. This marks the first breakthrough since Nasdaq’s filing nearly nine months ago. Consequently, this move suggests the SEC is becoming more flexible toward crypto-linked products.
However, uncertainty still clouds the path forward. Delays in approving altcoin ETFs are raising concerns among investors. If decisions drag beyond June, the U.S. may lose its edge in global crypto innovation. Meanwhile, market participants continue watching closely.
