New Year Delay for Hashdex Bitcoin ETF Application
The United States Securities and Exchange Commission (SEC) has announced that it will push back the decision on Bitcoin exchange-traded fund (ETF) approval for Hashdex until the new year. This delay comes at a time when the crypto community is eagerly awaiting decisions on several applications pending approval from the US SEC.
The recent statement by the SEC outlines a decision delay for the Hashdex Bitcoin ETF until January 1, 2024. The Commission has designated this date as the deadline to either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.
Bloomberg analyst Eric Balchunas commented following the announcement that he doesn’t see the “SEC letting these late-to-party filings’ dates interrupt things.” Meanwhile, James Seyffart also commented on the matter shortly after.
Recent Speculation Surrounding Approval of Bitcoin ETF
There have been reports suggesting that the SEC may approve Bitcoin ETFs as early as this week. Grayscale Investment’s CEO Michael Sonnenshien mentioned that “it’s been a ten-year dress rehearsal. We’re ready for the main event.” However, BlackRock, the world’s largest asset manager, has highlighted several pivotal risk factors associated with Bitcoin ETFs.
Hot Take: The Future of Bitcoin ETF Approval
The delay in approving Hashdex’s Bitcoin ETF application indicates that there are significant regulatory hurdles that need to be addressed before such investment products can be approved. While there is growing optimism within the crypto community about potential approvals in the coming weeks, it is essential to consider the risks associated with these investment vehicles. The decision will have far-reaching implications for both traditional investors and crypto enthusiasts alike.
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