The SEC of the US has delayed the approval of multiple encryption ETF applications and is seeking feedback, including BlackRock's Bitcoin ETF physical purchase mechanism.

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According to The Block, the U.S. Securities and Exchange Commission (SEC) announced a delay in its decision on BlackRock's Bitcoin ETF physical purchase mechanism and has begun soliciting public opinions. If approved, this mechanism will allow investors to directly purchase and redeem ETF shares using Bitcoin instead of cash, enhancing trading efficiency. The rule amendment submitted by Nasdaq in January indicated that iShares Bitcoin Trust plans to adopt this model, but the SEC had previously favored a cash settlement mechanism. On the same day, the SEC also delayed the approval of Grayscale Litecoin Trust and Grayscale Solana Trust, requesting public opinions. On Tuesday, the SEC also sought public opinions on the 21Shares DOGE ETF.

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