Hashdex submits new S-1 for Bitcoin ETF attempting cash-only applications

Hashdex has recently filed a new S-1 for their Bitcoin ETF to make DEFI a cash-only create and redeem application pioneer.

Initially reported by James Seyffart, a Bloomberg Intelligence analyst, DEFI currently trades and aims to add spot Bitcoin exposure.

Don't see anything drastically new in here honestly. Still don't see anything about who they will use as spot Bitcoin custodian which is what i'm most interested in seeing.

— James Seyffart (@JSeyff) December 21, 2023

At the same time, Seyffart also notes that details on the spot Bitcoin custodian remain undisclosed.

Seyffart expressed skepticism about approvals this year, maintaining that approval might occur between Jan. 8 and 10.

What do you reckon James, gun up your bum approval this week or in Jan?

— OSF (@osf_rekt) December 21, 2023

Amid numerous updates on the spot Bitcoin ETF front, it’s noteworthy that Eric Balchunas, a Senior ETF Analyst for Bloomberg, observes a competitive dynamic between BlackRock and Grayscale, two players in the spot Bitcoin ETF race in scheduling SEC meetings, with BlackRock leading 5-4. As part of his post on X, dated Dec. 20, he suggests this could potentially foreshadow an upcoming battle in terms of assets and volume a year from now.

Despite the holidays approaching, it is clear that those in the spot Bitcoin ETF race have shown no signs of slowing down.