Hashdex Updates its Spot Bitcoin ETF Application
Crypto asset management firm Hashdex has submitted an updated filing for its Bitcoin futures ETF application with the U.S. Securities and Exchange Commission (SEC). The amendment proposes changes to certain representations made in the previous rule change filing. The filing also confirms that Hashdex’s ETF will now come under Tidal Financial Group, following the merger of Teucrium Trust and Tidal Trust in October.
According to Hashdex CEO Marcelo Sampaio, the process of getting approval for a Bitcoin spot ETF in the U.S. is similar to what they went through in Brazil three years ago.
In addition to the futures ETF, Hashdex also has a spot Bitcoin ETF filing with the SEC. The SEC has published this filing in the Federal Register, with a submission deadline for rebuttal comments set for January 5. It is expected that the first spot Bitcoin ETF in the United States will be approved between January 5-10, with ARK Invest and 21Shares being first in line for approval on January 10.
Bitcoin Price Surges to $39,000
Bitcoin (BTC) reached a new high of $39,000 after Federal Reserve Chairman Jerome Powell hinted at no future rate hikes. A report by Matrixport also suggests that BTC could reach $60,000 before the next Bitcoin halving in April 2024.
In the past 24 hours, BTC’s price has jumped 3%, currently trading at $38,744. The trading volume has slightly increased during this period, indicating interest from traders.
Hot Take: Positive Momentum for Bitcoin ETF Approval
The updated filing by Hashdex for its Bitcoin futures ETF application and the looming approval window for spot Bitcoin ETFs indicate positive momentum for the cryptocurrency industry. With the SEC publishing the filings and a potential approval in early January, the market is eagerly awaiting the launch of these ETFs. The surge in Bitcoin’s price to $39,000 further adds to the excitement and optimism among investors. If approved, these ETFs have the potential to attract more institutional investors and bring further legitimacy to Bitcoin as an asset class.
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