Hashdex Promotes Spot Bitcoin ETF with New Commercial
Asset management firm Hashdex has released a new commercial ahead of the upcoming decision by the US Securities and Exchange Commission (SEC) on spot Bitcoin exchange-traded funds (ETFs) in the country. The advertisement, posted on X, emphasizes the potential approval of a spot Bitcoin ETF and proclaims that “Bitcoin’s Time Has Arrived.” The commercial draws parallels between Bitcoin and the adoption of credit in the ’90s, highlighting Bitcoin’s innovative nature and disruptive potential in the financial sector. Hashdex recently celebrated Bitcoin’s 15th birthday with a video dedicated to its inception and future. The firm is one of many looking to secure a Spot Bitcoin ETF to facilitate crypto banking for clients.
Anticipation Grows for Spot Bitcoin ETF Approval
As anticipation builds for potential approval of a Spot Bitcoin ETF in the US, several prospective issuers, including Hashdex, are launching advertisements. While some industry observers are cautious, expecting delays in the approval process, others believe approval may come in the early weeks of 2024. Bloomberg senior ETF analyst Eric Balchunas noted that while final comments are being provided by the SEC, no official approval has been confirmed. Reports suggest that the SEC may take additional time to review comments and amendments before making a final decision. Investment firm VanEck has pledged to donate 5% of potential ETF profits to Bitcoin core developers at Bitcoin Brink.
SEC Engages with Asset Managers
In November and December, representatives from asset managers such as Grayscale, BlackRock, Fidelity, and Franklin Templeton engaged in meetings with SEC officials regarding spot Bitcoin ETF listings. While the SEC has not indicated approval for any spot cryptocurrency exchange-traded product, there is growing anticipation for potential approval in the early weeks of 2024, potentially between January 8th and 10th.
Hot Take: Hashdex’s Promotion Reflects Growing Optimism for Spot Bitcoin ETF Approval
Hashdex’s new commercial promoting the spot Bitcoin ETF reflects the growing optimism surrounding its potential approval by the SEC. The advertisement highlights the innovative nature of Bitcoin and its disruptive potential in the financial sector. While some caution about potential delays, others believe approval may come soon. Investment firm VanEck has even pledged to donate a portion of ETF profits to Bitcoin core developers, emphasizing their long-term commitment to the cryptocurrency. With asset managers engaging with SEC officials and expectations of a decision in the early weeks of 2024, the anticipation for spot Bitcoin ETF approval continues to grow.
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