As the U.S. Securities and Exchange Commission (SEC) re-examines cryptocurrency ETF frameworks, Bitwise filed new applications for Dogecoin (DOGE) and APT spot ETFs on June 27. The proposals include a pivotal in-kind redemption mechanism, currently under SEC scrutiny.
Why In-Kind Redemption Matters: SEC’s Ongoing Evaluation
The in-kind redemption mechanism allows authorized participants (e.g., broker-dealers) to redeem shares directly for cryptocurrencies instead of cash. This offers tax efficiency and lowers operational costs for institutional investors.
In February 2025, the SEC sought public input on permitting in-kind creation/redemption for BTC and ETH spot ETFs. Commissioner Hester Peirce ("Crypto Mom") confirmed at the 2025 Bitcoin Policy Summit:
"In-kind redemption is under active review."
👉 Read more about SEC’s ETF policy shifts
DOGE and APT ETF Applications: Current Status
Bitwise’s initial filings:
- DOGE ETF: Submitted January 2025 (S-1 filing)
- APT ETF: Filed March 2025
Both are now in the "amendment phase", where Bitwise adjusts structures based on SEC feedback—a critical step toward approval.
Trump’s Crypto Push: 72 ETF Applications Pending
President Trump’s pro-crypto policies accelerated industry growth:
- Appointed David Sacks as "AI Crypto Czar"
- Moves to halt Chokepoint 2.0 banking restrictions
- 72 crypto ETFs awaiting SEC approval (e.g., XRP, SOL, Litecoin)
FAQs
Q: What’s the advantage of in-kind redemption?
A: Reduces tax burdens and operational costs for institutions.
Q: When will these ETFs launch?
A: Pending SEC approval; amendment phases suggest progress.
Q: How does Trump’s policy affect crypto ETFs?
A: Streamlined regulations increase approval odds for pending applications.
👉 Explore crypto investment strategies
Risk Warning: Cryptocurrency investments are volatile. Capital loss is possible. Assess risks carefully.
### Keywords:
1. Bitwise
2. DOGE ETF
3. APT ETF
4. In-kind redemption
5. SEC approval
6. Crypto regulations
7. Trump crypto policy
8. Spot cryptocurrency ETFs
*Notes*:
- Removed redundant years (e.g., "2025" kept only for policy references).