Hashdex Updates its S-1 Filing
Global crypto asset management firm Hashdex has made an eleventh-hour move by filing an updated prospectus for its spot Bitcoin ETF application with the SEC. Unlike its peers, Hashdex is seeking a strategy change rather than a completely new filing. However, the company still needs to comply with the SEC’s guidelines to secure approval. The updated prospectus provides more information on the risks investors may face with Hashdex’s spot Bitcoin ETF, which will be listed under the ticker symbol “DEFI.”
Hashdex’s Pursuit of Spot Bitcoin ETF Nears Conclusion
According to Fox Business Senior Correspondent Charles Gasparino, the SEC is expected to approve at least one of the applicants for a spot Bitcoin ETF by January 10. There have been discussions about approving all spot Bitcoin ETFs simultaneously to prevent one asset manager from dominating the market. The Chicago Board Options Exchange (CBOE) has made preparations to expedite the registration process for various ETF issuers, including Ark 21Shares, Bitwise, and Fidelity Investments.
Hot Take: Hashdex Optimistic About Spot Bitcoin ETF Approval
With its updated prospectus and efforts to educate the community and promote its product through commercials, Hashdex believes it has positioned itself well for SEC approval of its spot Bitcoin ETF. The firm is confident that by disclosing risks and offering competitive fees, it has a strong chance of receiving a positive nod from the SEC. As the pursuit of spot Bitcoin ETFs enters its final stage, all eyes are on which applicant will be approved and how it will impact the cryptocurrency market.
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