Internet reports that the U.S. Securities and Exchange Commission (SEC) officially approved the "physical purchase and redemption" mechanism for Bitcoin and Ethereum spot ETFs on July 29, covering many institutional products including BlackRock, Ark21, Fidelity, VanEck, Franklin Templeton, etc. This adjustment will make fund operations more efficient and cheaper. The SEC also approved fund funds that include Bitcoin and Ethereum spot assets, Bitcoin ETF options products, and applications to relax certain option holding limits. Chairman Paul Atkins called the move "part of establishing a more rational regulatory framework" that will benefit the depth and vitality of the U.S. crypto market. Analysts expect that subsequent ETF applications tracking altcoins will also support the physical subscription model.