📶📶The U.S. Securities and Exchange Commission delayed making a decision on crypto asset management firm Hashdex's exchange-traded fund that would directly own spot bitcoin and ether.
The agency said it will extend its time on deciding to approve, disapprove or institute proceedings until Sept. 30, 2024, according to a filing posted on Friday.🥰🥰
"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the SEC said.
🥈🥈Hashdex filed its registration statement, also called an S-1, with the SEC on July 24. The fund, called the Hashdex Nasdaq Crypto Index US ETF would own bitcoin and ether, but could later hold more assets depending on how the regulatory landscape unfolds.📶📶
"If any crypto asset other than bitcoin and ether becomes eligible for inclusion in the Index, the Sponsor will transition to a sample replication strategy, with only bitcoin and ether in the same proportions determined by the Index," the firm said in its S-1 filing. "In the event the Trust seeks to change this and return to a full replication strategy, a rule filing under Rule 19b-4 of the Exchange Act would need to be filed with the SEC by the Exchange seeking approval to amend its listing rules to permit the Trust to hold the new Index Constituents."🥰🥰
The Hashdex Nasdaq Crypto Index US ETF will list and trade on Nasdaq and is based on the Nasdaq Crypto Index US methodology. Nasdaq filed a Form 19b-4 for the fund in June.🎗
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