SEC Is Now All In On Crypto. What's Next?
After initial delays, the SEC has approved in-kind redemptions for spot Bitcoin and Ethereum ETFs. The decision is the first pro-crypto policy decision by Paul Atkins, the SEC chair confirmed earlier this year who is expected to help realize crypto evangelists' digital currency dreams. The move also is the first major indication that the crypto industry — whose super PACs donated tens of millions to President Donald Trump's 2024 campaign — is getting what it expected.
Invest in Gold
American Hartford Gold: #1 Precious Metals Dealer in the Nation
Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase
Thor Metals Group: Best Overall Gold IRA
The decision marked 'the biggest day for crypto in the history of the space,' said financial consultant Tyrone Ross Jr. 'This administration, whether it's custody, whether it's on-chain, whether it's ETFs … they're making sure that crypto thrives in America.'
READ ALSO: Rich Investors Eschew Financial Advice, Trade ETFs Frequently and Two Income ETFs Are Goldman's Fastest Sellers
Will That Be Cash or Crypto?
In-kind redemptions let investors create and redeem shares of spot crypto ETFs without having to use cash — meaning authorized participants, the people with the power to change the number of ETF shares on the market, can now add or remove assets from a fund using Bitcoin or Ethereum. In a statement on the approval, Atkins said the decision is only the first step toward building 'a rational regulatory framework for crypto.' But how much of these changes can be attributed to the Trump administration? 'One hundred percent,' said Ross. 'They are hell-bent on America becoming the main hub for crypto in the world.'
Other measures approved by the agency were:
Advancing a 'merit-neutral' approach to crypto-based products, including applications for spot crypto ETFs.
Allowing FLEX options on shares of certain Bitcoin ETFs that let investors customize things like expiration date and strike price.
The SEC's likely next move is specifying which coins are and aren't securities, Ross said. 'That's the big one that everyone is still waiting for,' he said. The Commodity Futures Trading Commission is also likely to eventually update its guidance on what it will oversee, he added.
Keeping Options Open. In-kind redemption approvals took place alongside another policy change to increase positions limits for options trading on BlackRock's spot Bitcoin exchange-traded fund, IBIT — the biggest crypto ETF on the market — from 25,000 to 250,000 contracts. BlackRock has been among the most prominent issuers pushing for deregulation, having filed for in-kind redemptions back in January. 'It's huge for the individual investor. It's huge for BlackRock,' Ross said. 'It's huge for the entire space.'
This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Asian stocks climb, dollar droops on Fed easing bets
By Kevin Buckland TOKYO (Reuters) -Asian equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings and growing expectations for U.S. rate cuts boosted sentiment. The prospect of a meeting between U.S. President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also underpinned sentiment, benefitting the euro, while weighing on oil prices as traders gauged the outlook for sanctions on Moscow. Sterling held its ground at a one-week high going into the Bank of England's policy announcement later in the day, with a quarter-point cut widely expected, and the focus falling on a possible three-way split within the board. At the same time, markets largely shook off Trump's latest tariff threats, including an additional 25% tariff on India over purchases of Russian oil and a threatened 100% duty on chips. Japan's broad Topix index rose 0.9% to reach an all-time high, with the more tech-focused Nikkei also gaining by about the same margin. Taiwan's stock benchmark surged 2.3% to a more than one-year peak. South Korea's KOSPI added 0.6%. Hong Kong's Hang Seng rose 0.4%, and mainland Chinese blue chips advanced 0.3%. Australian shares edged slightly lower after hitting a record high on Wednesday. U.S. stock futures were buoyant, with those for the S&P 500 up 0.3% and those for the Nasdaq also rising 0.3%. On Wednesday, the S&P 500 climbed 0.7% and the Nasdaq Composite jumped 1.2%. "Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note. "However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." The U.S. dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the U.S. President's dovish views on monetary policy. Focus is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in May. The dollar index, which gauges the currency against the euro, sterling and four other counterparts, gained slightly to 98.245, after dropping 0.6% on Wednesday. The euro was little changed at $1.1657, following the previous session's 0.7% jump. Sterling was steady at $1.3356. The BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next moves. Two Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. The dollar added 0.1% to 147.53 yen. Gold gained 0.4% to around $3,382 per ounce, buoyed by the weaker dollar. Crude oil clawed back some losses from Wednesday, when both Brent and West Texas Intermediate slid about 1%. Brent crude futures were last up 20 cents, or 0.3%, at $67.09 a barrel, while U.S. West Texas Intermediate crude gained 22 cents, or 0.3%, to $64.57 a barrel. Sign in to access your portfolio
Yahoo
25 minutes ago
- Yahoo
Sticker Mule partners with xAI to deploy Grok to 370 employees and millions of customers
Sticker Mule partners with xAI to deploy Grok to 370 employees and millions of customers AMSTERDAM, N.Y., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Sticker Mule will bring Grok to 370 employees and millions of customers worldwide. Implementation begins in August with Grok being deployed across all departments including engineering, marketing, finance, support and manufacturing. 'Everyone with an email at Sticker Mule is getting Grok, including many front line factory employees,' said Sticker Mule CEO, Anthony Constantino. 'We wanted to be among the first to implement Grok company-wide as we most trust xAI's capabilities.' The company will also begin implementing Grok-powered customer support and utilize Grok as its business brain to enhance decision-making. 'AI is going to beat up pure software businesses, but it will help innovators that sell physical products like Sticker Mule,' Constantino said. 'AI can't manufacture, but it will help innovators, like Sticker Mule, to reach feature parity with incumbent software platforms.' Sticker Mule recently entered the e-commerce market by launching Stores which has already helped sellers earn nearly $200,000 while in beta. Constantino expects AI to accelerate development of Stores and position it to challenge incumbents like Shopify. To supplement Stores, the company is also building a suite of business tools to further help its sellers including Give, an automated online giveaway platform, that was launched recently. Give automates giveaways to help sellers grow their Email and SMS marketing lists. Sticker Mule is also soon to release Notify, a full blown Email and SMS marketing platform that's in beta testing and other tools will follow. 'We believe, with xAI, we can likely double sales with minimal staff growth which will enable us to significantly improve compensation for our team and store sellers,' said Constantino. About Sticker Mule Sticker Mule is the best way to buy and sell custom merchandise, including stickers, t-shirts, magnets, buttons, labels, packaging, keychains, temporary tattoos, and an award-winning hot sauce. Founded in 2010, today we are powered by 1,200+ people in 30+ countries, with factories in New York, South Carolina and Italy. Press contact Paul Antonelli press@ A photo accompanying this announcement is available at
Yahoo
25 minutes ago
- Yahoo
Ultra Clean Names Chris Cook as Chief Business Officer
HAYWARD, Calif., Aug. 6, 2025 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), announced today that its Board of Directors has appointed Chris Cook as Chief Business Officer of UCT effective immediately. "As President of UCT's Products Division, Chris has successfully grown our product portfolio, expanded our vertical content, deepened our customer relationships and enhanced our manufacturing leadership position across key markets," said Clarence Granger, Chairman of UCT. "In his new role as Chief Business Officer, Chris will also spearhead UCT's commercial strategy, forging deeper strategic partnerships with customers, identifying new market opportunities, and accelerating growth through an optimized portfolio of innovative products and services, accelerating our advancement in the global semiconductor market. In his new role, Chris will continue to report to the CEO." Mr. Cook joined UCT as President, Products Division in April 2022. Chris's track record includes 28 years of successful leadership and general management with semiconductor and electronic systems companies, including Renesas Technologies, Infineon Technologies, Flex, and Cypress Semiconductor. Mr. Cook specializes in driving profitable growth by developing valuable technologies and products, optimizing global operations, and solving tough problems in ways that build lasting trust with customers. In addition, he has led numerous strategic initiatives to scale and improve customer experience, employee engagement, and financial performance via the digital transformation of processes and services. Mr. Cook holds a B.S. in Electrical Engineering and Technology from Purdue University and completed the Program for Leadership Development at Harvard Business School. About Ultra Clean Holdings, Inc. Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping, and high-precision manufacturing. Under its Services Division, UCT offers its customers tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California. Additional information is available at Contact: Rhonda BennettoSVP Investor Relationsrbennetto@ View original content to download multimedia: SOURCE Ultra Clean Holdings, Inc.