Hashdex Sits Down With Sec Over Spot Bitcoin Etf Application

Asset manager Hashdex recently met with the U.S. SEC to address the regulator’s concerns over its application for a spot Bitcoin ETF.

Asset manager Hashdex held a meeting with the SEC to address concerns related to its application for a spot Bitcoin ETF.

According to the report from the Division of Trading Markets, the meeting took place on October 13th and included representatives from the SEC, Hashdex, NYSE Arca, Tidal Financial Group, and the law firm K&L Gates.

During the meeting, Hashdex presented a mechanism that would enable the spot Bitcoin ETF to trade on the CME, which is regulated by the CFTC.

Hashdex's application is different from other spot Bitcoin ETF applications because it does not involve an agreement with Coinbase. Instead, the company recommends acquiring spot Bitcoin from physical exchanges in the CME market, making transactions entirely dependent on CME pricing.

According to a source familiar with the matter, the SEC may request more details before the application deadline, which is November 17th.

Hashdex claims to have assets under management of over $380 million and products traded on 14 exchanges in seven countries.

SEC approved Hashdex's Bitcoin Futures ETF in April 2022.

Many asset managers in the United States have submitted applications to the SEC for spot Bitcoin ETFs.

Bloomberg analyst Eric Balchunas suggested that ETF approval could happen in the near future.

Kaynak : Cointelegraph