$ETH ##BTC ##$SEC DELAYS DECISION ON HASHDEX $BTC BITCOIN SPOT ETF APPLICATION, GRAYSCALE ETHER FUTURES FILING
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The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the HashDex Bitcoin Spot ETF application. The agency has extended the review period for the proposed exchange-traded fund (ETF) until January 2023. The ETF, filed by asset manager Hashdex, aims to track the performance of bitcoin. The SEC has previously delayed several other bitcoin ETF applications, citing concerns over market manipulation and investor protection.
In addition to the HashDex Bitcoin Spot ETF, the SEC has also delayed its decision on a filing by Grayscale Investments for a futures-based ETF that would track the performance of ether. The agency has extended the review period for the Grayscale Ether Futures ETF until January 2023 as well. Grayscale is one of the largest digital asset managers, and its filing represents the latest attempt to launch a regulated ether futures ETF.
The SEC's delay in making a decision on these ETF applications is not uncommon. The agency has been cautious in approving cryptocurrency-related products, citing concerns over market manipulation, custody, and investor protection. While several countries, including Canada and Brazil, have already approved bitcoin ETFs, the U.S. has yet to give the green light for such products.
Investors and industry participants are eagerly awaiting the SEC's decision on these ETF applications, as approval could open the floodgates for institutional investment in cryptocurrencies. ETFs are seen as a more accessible and regulated way for investors to gain exposure to digital assets.
