Hashdex Nasdaq Ethereum ETF Application Delayed by SEC Until Next Year
The Securities and Exchange Commission (SEC) has postponed a decision this week regarding the approval of the Hashdex Nasdaq Ethereum ETF, seeking permission to hold both spot ether and futures contracts.
Because Bitcoin
November 17, 2023
The Securities and Exchange Commission (SEC) has postponed a decision this week regarding the approval of the Hashdex Nasdaq Ethereum ETF, seeking permission to hold both spot ether and futures contracts.
The SEC extended the review period, stating it would decide on approval, disapproval, or proceedings by January 1, 2024, as per a recent The Block report. Additionally, the agency delayed a decision on a Hashdex bitcoin futures ETF application. The Nasdaq stock exchange submitted the ETF filing in September, managed by Toroso Investments.
The ETF's approach involves a mix of spot ether, ether futures contracts, and cash to mitigate susceptibility to spot market manipulation. The SEC has previously approved ether futures-like ETFs, but spot ether or mixed ones have yet to receive approval. Notably, various firms, including Grayscale and BlackRock, are pursuing spot ether ETFs, echoing the anticipation for a spot bitcoin ETF approval from the SEC.
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