SEC Postpones Decisions On Hashdex Spot Bitcoin ETF And Grayscale Ether Futures ETF Applications

2 Mins read

Join Our Telegram channel to stay up to date on breaking news coverage

The US Securities and Exchange Commission (SEC) has postponed its decision on Hashdex’s spot Bitcoin exchange-traded fund (ETF) and Grayscale’s Ethereum futures ETF filings.

The securities regulator had an initial deadline of November 17 to make a decision on the two applications.

It has now added a 45-day window, with the next decision deadline for both set for January 1, 2024.

SEC Delays Hashdex’s “Unique” Spot Bitcoin ETF

The Hashdex spot BTC ETF application was delayed despite the asset manager taking a unique approach.

Unlike other recent filings, Hashdex will acquire spot BTC from physical exchanges on the Chicago Mercantile Exchange (CME). This makes the ETF solely reliant on CME pricing.

The 19b-4 filing says doing this will “avoid any exposure to potential manipulation from unregulated exchanges.”

The SEC said it needs “sufficient time to consider the proposed rule change and the issues raised therein.”

Analysts Say Grayscale’s ETH Futures ETF Is A “Trojan Horse”

While reacting to the SEC’s delayed decision on Grayscale’s ETH futures ETF, Bloomberg ETF analyst, James Seyffart said that Grayscale was “playing chess” with the commission.

He noted that if the SEC were to approve Grayscale’s Ethereum ETF, it would allow the digital asset manager to “point out the SEC’s hypocrisy on deciding between futures and spot.”

“I doubt Grayscale even intends to launch this,” Seyffart said. “It’s nothing but a trojan horse to get a 19b-4 order from the SEC. And watch them try to either approve and argue why this is different from spot.”

Also Read

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 100% APY

Bitcoin Minetrix

Join Our Telegram channel to stay up to date on breaking news coverage

Source link

Related posts

Bitcoin Price Avoids Collapse But Can Bulls Clear This Major Hurdle?

1 Mins read
Bitcoin price trimmed losses and climbed above $37,750. BTC gained pace but it is still struggling to clear the $38,500 resistance zone….

Citizens Must Report Overseas Crypto Assets by March 31

2 Mins read
With growing efforts to regulate the taxation of virtual assets around the world, Spain has introduced new laws requiring residents holding crypto…

November Fire in NFTs Is Still Burning

3 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage The non-fungible token market has experienced exponential growth in…



Leave a Reply

Your email address will not be published. Required fields are marked *