Hashdex Reaches Out to SEC Chair Gary Gensler Regarding Upcoming Spot Bitcoin ETF Deadline

Hashdex Meets with the SEC Before Deadline

In preparation for the approval of the United States’ first spot Bitcoin ETF, Hashdex, a crypto asset management firm, held a meeting with the U.S. Securities and Exchange Commission (SEC) to discuss the necessary changes to their ETF application. This meeting took place after a previous constructive meeting between Bitcoin ETF issuers and the SEC last week.

Interestingly, this meeting was different from previous ones as Hashdex met directly with SEC Chair Gary Gensler’s office. This has sparked speculation within the market. Previously, Bitcoin ETF issuers had meetings and calls with the SEC’s trading and markets division and corporate finance division.

Spot Bitcoin ETF Gains Momentum

The stock and crypto markets are eagerly awaiting the approval of a spot Bitcoin ETF by the SEC. As talks progress constructively, issuers of spot Bitcoin ETFs are making final changes to their prospectus, specifically regarding “cash creates.” It is likely that the SEC will only approve cash-only redemptions.

In related news, Grayscale has filed another amended S-3 filing with the securities regulator to convert GBTC to a spot Bitcoin ETF. This follows Barry Silbert stepping down as chairman of Grayscale Investments.

Additionally, BlackRock, Pando Asset, and Hashdex have recently submitted updated S-1 filings with the SEC. Hashdex has chosen BitGo as its Bitcoin ETF custodian.

Hot Take: The Future of Spot Bitcoin ETFs

The recent meetings between Hashdex and the SEC Chair’s office indicate that progress is being made towards approving a spot Bitcoin ETF in the United States. With constructive talks and final changes being made to prospectuses, it seems that a breakthrough may be on the horizon.

If approved, a spot Bitcoin ETF would provide investors with an easier and regulated way to gain exposure to Bitcoin. This could have significant implications for the cryptocurrency market, potentially leading to increased adoption and mainstream acceptance of Bitcoin as an investment asset.