Crypto Asset Manager Hashdex Applies for Spot Bitcoin ETF
Crypto asset manager Hashdex has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF. The filing reveals a strategy that uses exchange-traded position transactions to directly source Bitcoin assets from affiliated exchanges. This is different from the traditional method of cash purchases on exchanges. Here are the key points:
– Hashdex applies to the SEC for a spot Bitcoin ETF.
– The ETF plans to source Bitcoin assets from affiliated exchanges.
– It uses exchange-traded position transactions, different from cash purchases.
– The spot Bitcoin ETF landscape is uncertain due to the SEC’s delay in providing feedback.
– Grayscale’s attempt to convert its Bitcoin Trust into a spot Bitcoin ETF remains pending.
Grayscale’s Legal Proceedings and Other Contenders
Grayscale’s legal proceedings to transform its Bitcoin Trust into a spot Bitcoin ETF have been postponed again. The future of the spot Bitcoin ETF and other pending matters remains uncertain. Additionally, other organizations, including BlackRock, ARK Investment Management, Bitwise, and VanEck, are also vying for a spot Bitcoin ETF. Here are the main points:
– Grayscale’s attempt to convert its Bitcoin Trust into a spot Bitcoin ETF is still pending.
– Various organizations, such as BlackRock and ARK Investment Management, are competing for a spot Bitcoin ETF.
Hot Take: The Future of the Spot Bitcoin ETF Remains Uncertain
The submission of an application for a spot Bitcoin ETF by Hashdex has sparked excitement in the crypto community. However, the SEC’s delay in providing feedback and the ongoing legal proceedings for Grayscale’s Bitcoin Trust illustrate the uncertainties surrounding the future of the spot Bitcoin ETF. Market participants eagerly await further developments in this space.
By
By
By
By
By