Hashdex and Other Asset Managers Looking to Launch Spot Bitcoin ETF
Hashdex is joining a growing list of asset managers seeking to launch the first-ever spot Bitcoin ETF in the US. Other notable players in the market include BlackRock, Invesco, Bitwise, Valkyrie, Fidelity, WisdomTree, and ARK Invest.
Positive Outlook on Spot Bitcoin ETF Approval
According to inside sources at BlackRock and Invesco, a spot Bitcoin ETF approval by the SEC is expected within the next four to six months. This news aligns with the belief of prominent investor Mike Novogratz, who recently stated that approval is just a matter of time.
Negative Outlook from Former SEC Chief
On the other hand, former SEC chief of Internet Enforcement, John Stark Reed, has expressed a pessimistic view. He believes the chances of a spot Bitcoin ETF approval are “slim and none” and goes as far as to say that the crypto space is “totally rigged.”
Slight Boost in Crypto Market
The general crypto market has seen a small increase of 0.13% in the past week. This growth has pushed the total crypto market cap to $1.03 trillion, as reported by Tradingview.
Hot Take: The Battle for a Bitcoin ETF Continues
The pursuit of a spot Bitcoin ETF in the US is ongoing, with Hashdex and other asset managers vying for SEC approval. While some insiders and investors remain optimistic about the chances of approval, others hold a more pessimistic view. The outcome of this battle will have significant implications for the crypto market and its future growth.
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