SEC延迟了BTC和ETH ETF的实物创作和赎回的决定，直到6月3日

根据X上埃莉诺·特雷特（Eleanor Terrett）的帖子，SEC已决定推迟其决定允许WisdomTroeeFunds和Vaneck处理实物创造和赎回的决定

The Securities and Exchange Commission (SEC) has decided to postpone its decision to allow WisdomTreeFunds and VanEck to process in-kind creations and redemptions for their BTC and ETH spot ETFs until June 3, according to a post by Eleanor Terrett on X.

根据X。EleanorTerrett的帖子，美国证券交易委员会（SEC）已决定将其决定允许WisdomTreeFunds和Vaneck对其BTC和ETH现货ETF进行实物创造和赎回，直到6月3日。

In-kind creations and redemptions are a topic that has been discussed extensively, especially in relation to the recent approval of the first BTC spot ETFs.

实物创造和赎回是广泛讨论的话题，尤其是与最新的BTC现场ETF的批准有关。

Explaining what in-kind creation involves, Terrett wrote that it is exchanging the underlying assets (like Bitcoin and Ethereum) directly without the need to convert in and out of cash—a rule that the Gensler SEC enforced.

特雷特（Terrett）解释了什么涉及什么涉及什么，它直接交换了基础资产（例如比特币和以太坊），而无需转换和从现金中转换，这是Gensler SEC强制执行的规则。

The regulator was against in-kind creations because they help people avoid taxable events, even though they also help maintain liquidity and price stability.

监管机构反对实物创作，因为它们还可以帮助人们避免应税事件，即使它们也有助于维持流动性和价格稳定。

The SEC is still erring on the side of caution

SEC在谨慎的一边仍在犯错

Eleanor Terrett's post on X regarding the postponement drew attention and comments as netizens weighed in with their opinions and questions.

埃莉诺·特雷特（Eleanor Terrett）在X上发表的有关推迟的帖子引起了人们的注意和评论，因为网民对他们的意见和问题表示压力。

One user asked if retail investors would be able to avoid taxable events via in-kind. Terrett responded by pointing out that in-kind creations will primarily benefit issuers and authorized participants (APs), not retail investors.

一位用户询问零售投资者是否能够通过实物避免应税事件。特雷特（Terrett）指出，实物创作将主要受益于发行人和授权参与者（APS），而不是零售投资者。

The fact that the SEC is still postponing its decision on in-kind ETF redemptions is a subject that has sparked interest and drew several comments.

SEC仍在推迟其对内在ETF赎回的决定，这一事实引发了人们的兴趣并引起了一些评论。

One user asked if retail investors would be able to avoid taxable events via in-kind, to which Terrett responded by saying that in-kind creations will primarily benefit issuers and APs, not retail investors. Another user stated that the SEC is moving slowly and keeping the crypto industry in suspense as they wait to see if the regulator will soften its stance or put out more red tape.

一位用户询问零售投资者是否能够通过实物避免应税事件，Terrett对此做出回应，说内心创作将主要使发行人和APS受益，而不是零售投资者。另一位用户表示，SEC正在缓慢移动，并保持加密工业的悬念，因为他们等待监管机构是否会减轻其立场或提出更多的繁文tape节。

This approach, which was common under Gensler, is one of the things that had been hindering crypto innovation in America and people expected a different approach under Paul Atkins.

这种方法是在Gensler领导下的常见方法，是阻碍美国加密创新的事情之一，人们期望在Paul Atkins的领导下采取不同的方法。

"Paul Atkins coming in and delaying things was not on my bingo card," one user wrote. Another added that the delay keeps the crypto industry on edge as they can't decide if the SEC will soften its stance or put out more red tape

一位用户写道：“保罗·阿特金斯（Paul Atkins）进来并延迟了我的宾果游戏卡上。”另一个补充说，延迟使加密货币行业处于边缘状态，因为他们无法决定SEC是否会软化其立场或提出更多繁文tape节

Things may speed up when Paul

当保罗时，事情可能会加快

Atkins officially takes over

阿特金斯正式接管

Some users on X seem to think that all these delays from the SEC have something to do with the new SEC head, Paul Atkins. Unlike Gensler, Atkins is bolder and actually seems interested in crypto innovation as opposed to regulation, so people expected that by now, the SEC would have done more to do things better for the industry.

X上的一些用户似乎认为SEC的所有这些延迟都与新的SEC负责人Paul Atkins有关。与Gensler不同，Atkins更大胆，实际上似乎对加密创新感兴趣，而不是监管，因此人们期望，到目前为止，SEC将为行业做得更好。

However, some hours ago, Terrett clarified that Paul Atkins is yet to take his seat at the SEC.

但是，几个小时前，特雷特澄清说，保罗·阿特金斯尚未在SEC坐下。

"There are a few procedural steps before he can officially start including President Trump signing off on his appointment and the formal swearing-in," she added. This could happen any time over the next few days so stay tuned.

她补充说：“有几个程序步骤才能正式开始，包括特朗普总统在任命和正式宣誓就职。”这可能在接下来的几天内随时发生，因此请继续关注。

Terrett later clarified that Trump's 'sign-off' is "purely procedurally" and "essentially a ministerial function, just part of the standard paperwork process.

Terrett后来澄清说，特朗普的“签字”是“纯粹是程序上”，“本质上是部长职能，只是标准文书工作过程的一部分。