Analyst Reports a Positive Development in Bitcoin Spot ETFs

• The SEC has been in discussions with crypto exchanges regarding Bitcoin Spot ETF applications.
• The SEC advises exchanges to use cash creates instead of in-kind transactions.
• Analyst Eric Balchunas sees this as a positive development.
• The SEC's advice could help ease restrictions on broker-dealers.
• The SEC has asked exchanges to submit amendments in the coming weeks.
• Balchunas believes cash creates make sense for broker-dealers.
• Only a few filers have shown interest in cash creates.

The sentiment of the article is generally positive, as it highlights a positive development in the SEC's stance on Bitcoin Spot ETF applications.