SEC meets with Hashdex to discuss its Bitcoin ETF proposal

The U.S. Securities and Exchange Commission (SEC) met with Bitcoin ETF applicant Hashdex this week, according to a Nov. 29 memo from the agency.

The discussion, which took spot connected Monday, Nov. 27., acrophobic a projected regularisation alteration to let NYSE Arca to database and commercialized shares of Hashdex’s Bitcoin ETF.

According to the SEC memo, 2 individuals from the SEC’s Office of the Chair met with 3 Hashdex members and 1 NYSE Arca member. A subordinate of the ineligible steadfast Wilson Sonsini Goodrich & Rosati besides attended.

An earlier filing indicates that immoderate of the aforesaid individuals met to sermon the ETF with the SEC’s Division of Trading and Markets connected Oct. 13.

Hashdex plans to adhd spot BTC to futures ETF

Hashdex projected to operation its money by sourcing spot Bitcoin positions wholly wrong CME’s regulated futures exchange. This would isolate the ETF from outer spot markets, and code regulatory concerns astir imaginable manipulation connected unregulated spot exchanges by avoiding them wholly and interfacing solely with the regulated CME futures market.

The SEC published a hold announcement regarding the connection successful question connected Nov. 15. This required the bureau to approve, disapprove, oregon statesman proceedings to determine whether to disapprove the regularisation alteration by Jan. 1, 2024.

That deadline nary longer applied arsenic of Nov. 28, erstwhile the SEC began proceedings nether the past enactment and opened a petition for comments connected the Hashdex Bitcoin Futures ETF. The SEC has not identified its existent determination deadline.

No spot ETF involving Bitcoin oregon Ethereum has been approved successful the U.S. to date, and Hashdex is 1 of galore plus managers with a pending application.

Other competing applicants see the fiscal giants BlackRock and Fidelity, arsenic good arsenic different firms specified arsenic Ark Invest, Invesco, Grayscale, and Bitwise.

The station SEC meets with Hashdex to sermon its Bitcoin ETF proposal appeared archetypal connected CryptoSlate.