The U.S. Securities and Exchange Commission (SEC) has recently announced a postponement in its decision regarding the approval of Hashdex Bitcoin ETF and Grayscale Ethereum Futures Trust ETF. This news comes as the SEC published a document explaining the deferral of Hashdex’s filing. Hashdex, which currently has a Bitcoin Futures ETF (DEFI) listed on the New York Stock Exchange (NYSE) sponsored by Teucrium Trading, intends to convert it into a spot Bitcoin ETF.
The approval of Hashdex Bitcoin ETF would make it the first-ever U.S. exchange-traded fund that directly invests in Bitcoin. Bloomberg Intelligence reported that the SEC had until November 17th to make their decision on this matter. However, the SEC has now announced a new decision deadline of January 1st, 2024, and more updates are expected to be provided then. This delay in approval also affects Grayscale’s Ethereum Futures Trust (ETH) ETF, which has also been pushed back to January 1st, 2024.
Speculations have been circulating around the approval processes for these ETFs, with analysts and experts weighing in on the matter. Bloomberg analyst James Seyffart and The ETF Store president Nate Geraci have both provided their analysis on the situation. Nevertheless, Hashdex’s and Grayscale’s filings are among many others that have been deferred.
