SEC postpones Hashdex’s spot Bitcoin ETF application

November 16, 2023 at 7:15 am

SEC postpones Hashdex’s spot Bitcoin ETF application

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on Hashdex’s application to launch a spot Bitcoin ETF in the U.S.

The regulator’s website says that the SEC also postponed its decision on Grayscale’s application to launch a futures ETF on Ethereum (ETH).

Through the application, Hashdex wants to transform its futures exchange-traded fund into a spot Bitcoin ETF. There is still no such tool in the US. Investors believe that its launch will attract institutional investors to the market. Therefore, applications for the tool have attracted the attention of the crypto community.

Next up is Franklin Templeton’s application to launch a spot Bitcoin ETF. The deadline for making a decision on it expires on Nov. 17.

Okay, we're nearing in on deadline dates for 3 spot #Bitcoin ETF applications. I want to get ahead of it because there's a pretty good chance we'll see delay orders from the SEC. Delays WOULD NOT change anything about our views & 90% odds for 19b-4 approval by Jan 10, 2024 pic.twitter.com/LE7sOlHAHM
— James Seyffart (@JSeyff) November 14, 2023

Earlier, the Nasdaq exchange placed an application for an Ethereum ETF proposed by BlackRock. BlackRock has submitted a 19b-4 filing for its own Ethereum ETF on Nasdaq, where the company intends to list.

The document also states that once the ETH fund is approved, Coinbase Custody Trust Company will become the primary custodian of all Ethereum coins.