SEC Commissioner: Physical Redemption of Cryptocurrency ETFs Possible, Relevant Applications Under Review According to The Block, Hester Peirce, a Republican member of the U.S. Securities and Exchange Commission, a physical redemption mechanism for cryptocurrency ETFs may be imminent. On Wednesday, during a group discussion at the Bitcoin Policy Research Institute, someone asked if the committee would approve the physical subscription and redemption mechanism and if it was "about to be implemented". Peirce said, "These (forms) are currently under review. So I believe that at some point, a physical subscription and redemption mechanism will definitely come. I cannot predict in advance, but we have heard that many companies are very interested in this Several companies, including BlackRock, have been applying to the institution for several months, hoping to allow physical subscription and redemption of Bitcoin ETFs instead of having to use cash. In January of this year, Nasdaq submitted a 19b-4 form on behalf of BlackRock to push for this change, and other companies have since followed suit.