The U.S. Securities and Exchange Commission (SEC) has decided to postpone a decision on a dual cryptocurrency spot fund ETF filed by Brazilian company Hashdex.
This postponement will affect the timing of the #ETF , which seeks to combine investments in #bitcoin and #MarketDownturn .
June 17, Nasdaq Exchange Markets filed a rule change with the SEC to register the Hashdex Nasdaq Crypto Index US ETF. The innovative ETF plans to allocate 70.54% to bitcoin and 29.46% to Ethereum, with a portion of the funds to be held in cash to cover operating expenses Coinbase and BitGo have been appointed as custodians of the fund.
Under the Securities Exchange Act, the SEC must respond to such filings within 45 days, but can extend that period to 90 days if necessary. On August 9, the SEC announced that it needed more time to evaluate the Hashdex ETF, and the decision date was moved from the original August 16 deadline to September 30. to September 30.
Another development was that the Chicago Board Options Exchange (CBOE) resubmitted its application for the Bitcoin ETF options, indicating that discussions with the SEC are ongoing. The revised filing is more detailed, indicating progress in negotiations. The Bitcoin ETF option would allow investors to hedge or speculate on the price of the Bitcoin ETF for a specified period of time.
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