Hashdex Submits Unique Application for Bitcoin ETF, Gains Attention Amid SEC's Decision-Making.
Summary:
Crypto asset management firm Hashdex has submitted an application for a Bitcoin futures ETF to the SEC, aiming to acquire spot Bitcoin from physical exchanges within the CME market. Analysts believe this unique approach may increase the likelihood of approval and address concerns of market manipulation and liquidity. SEC Chair Gary Gensler has yet to provide feedback on spot Bitcoin ETF applications, Ethereum ETFs, and the potential approval of a spot Bitcoin ETF this year.
Hashdex, a leading crypto asset management firm, has thrown its hat in the ring for a coveted spot in the Bitcoin ETF market in the US. The company has submitted an application to the SEC for a Bitcoin futures ETF that will hold actual spot Bitcoin, making it stand out from recent filings. Unlike others, Hashdex plans to acquire spot Bitcoin from physical exchanges within the CME market, rather than relying on the Coinbase surveillance sharing agreement. This unique approach has caught the attention of analysts, who believe it could increase the likelihood of SEC approval. Experts also suggest that Hashdex's filing could address concerns about market manipulation and liquidity. The SEC and Gary Gensler have yet to provide feedback on spot Bitcoin ETF applications, the surge of Ethereum ETFs, and the possibility of approving a spot Bitcoin ETF this year.
Published At
8/26/2023 7:32:27 AM
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