Hashdex Files S-1 for Bitcoin ETF with Cash-Only Create and Redeem Application
Hashdex has recently filed a new S-1 for their Bitcoin ETF to make DEFI a cash-only create and redeem application pioneer, according to a Bloomberg Intelligence analyst.
Spot Bitcoin Custodian Details Remain Undisclosed
While DEFI currently trades and aims to add spot Bitcoin exposure, details on the spot Bitcoin custodian for Hashdex’s ETF remain undisclosed.
Skepticism About Approvals This Year
The analyst expressed skepticism about approvals for Bitcoin ETFs happening this year, suggesting that approval might occur between January 8 and 10.
Competitive Dynamic Between BlackRock and Grayscale
Eric Balchunas, a Senior ETF Analyst for Bloomberg, notes a competitive dynamic between BlackRock and Grayscale in the spot Bitcoin ETF race. He suggests that their scheduling of SEC meetings could foreshadow an upcoming battle in terms of assets and volume a year from now.
No Signs of Slowing Down
Despite the holidays approaching, those in the spot Bitcoin ETF race continue to push forward without any signs of slowing down.
Hot Take: The Ongoing Battle for Spot Bitcoin ETF Approval
The approval of spot Bitcoin ETFs remains a topic of intense interest and speculation. With Hashdex filing a new S-1 for their Bitcoin ETF and the details of the spot Bitcoin custodian still undisclosed, the industry eagerly awaits regulatory approvals. Analysts express skepticism about approvals happening this year but believe they may come early next year. Meanwhile, a competitive dynamic is emerging between BlackRock and Grayscale, leading to speculation about future battles in terms of assets and volume. Despite the upcoming holidays, the race for spot Bitcoin ETF approval shows no signs of slowing down.
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