The SEC voted to approve the use of in-kind creation and redemption mechanisms for crypto exchange-traded products (ETPs). The SEC said in a statement that the approved order marks a departure from recently approved spot BTC and ETH ETPs, which were limited to creations and redemptions on an in-cash basis. Commissioner Mark Uyeda released a statement praising the decision for making crypto ETPs “less costly and more efficient.” The agency also approved a tenfold increase in the position limits for options on BlackRock’s iShares BTC Trust.