SEC reacted with its postponement decision: It does not let go of ETFs
The U.S. Securities and Exchange Commission (#SEC ) has postponed approval of the Hashdex Nasdaq Crypto Index #US ETF, which will cease holding both Bitcoin and Ethereum.
The SEC published a filing on Friday stating that it will extend the initial 45-day review period for the Hashdex ETF proposal.
A new deadline of September 30 is set for conducting the process to approve, reject, or disapprove the optional rule change.
SEC continues to operate in Spot ETFs Nasdaq has requested permission to list and trade shares of the Hashdex Nasdaq Crypto Index US ETF, which is scheduled to submit a proposal for the ETF to the SEC on June 17.
If approved, the entity would be allowed to buy and sell shares of this ETF, which is designed to track the value of both leading cryptocurrencies.
The SEC said, “The Commission finds it appropriate to set a longer period for conducting transactions related to the proposed rule changes; “Therefore, it will have sufficient time to address the proposed rule changes and what is presented in this amendment,” he said.
The decision to postpone comes amid heightened expectations, especially after the SEC approved the launch of Bitcoin ETFs earlier this year and Ethereum ETFs shortly thereafter.
After several issues arose prior to the launch of spot ETFs, the SEC did not surprise this time. The institution has been criticized by those who have observed, especially since the recent particle precipitation caused declines in various cryptocurrencies.
