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Hashdex Files Spot Bitcoin ETF with SEC: Will it be Approved?

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• Hashdex has filed a proposal to the US SEC for a spot Bitcoin ETF.
• The ETF will acquire its spot Bitcoin via physical exchanges on the CME market instead of using Coinbase surveillance agreement like other recently filed Bitcoin ETFs.
• Experts think that the SEC is more likely to approve this due to the pressure Gary Gensler is under from recent filings and Grayscale litigation.

Hashdex Files Spot Bitcoin ETF Application With The US SEC

Hashdex, a cryptocurrency asset manager, has joined the U.S spot Bitcoin ETF contest with a proposal submitted to the US SEC. This filing differs from other recent applications in that it does not rely on Coinbase’s surveillance sharing agreement and would acquire its spot bitcoin via physical exchanges on the CME market.

Pressure On The US SEC

Analysts have noted that this filing could be approved by the US SEC due to pressure put on them by Grayscale’s litigation and other filings recently made. Bloomberg experts have previously said that Ethereum ETFs are more likely to be approved this year than Bitcoin ETFs are. Additionally, crypto markets remain volatile following a recent bloodbath and Jerome Powell’s statement yesterday about potential future interest rate rises by The Federal Reserve if necessary.

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Conclusion

Hashdex’s submission of an application for spot Bitcoin ETF stands out among others due to its utilization of physical exchanges on CME rather than using Coinbase’s surveillance sharing agreement as seen in other recently filed applications. Furthermore, there is reason to believe that this filing will be approved based upon pressures put upon the US SEC from Grayscale’s litigation as well as other filings made recently such as those for Ethereum ETFs which are more likely to be approved than those for BTC this year given current volatility in crypto markets and statements made by Jerome Powell yesterday about potential future interest rate rises by The Federal Reserve if necessary .

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