Hashdex's strategy varies from recent filings in that it will not rely on the Coinbase surveillance sharing arrangement, instead acquiring spot Bitcoin via physical exchanges in the CME market.However, Hashdex, a cryptocurrency asset management firm, has entered the race to launch a spot Bitcoin exchange-traded fund (ETF) in the U.S.The company has applied to the …
Hashdex’s strategy varies from recent filings in that it will not rely on the Coinbase surveillance sharing arrangement, instead acquiring spot Bitcoin via physical exchanges in the CME market.
However, Hashdex, a cryptocurrency asset management firm, has entered the race to launch a spot Bitcoin exchange-traded fund (ETF) in the U.S.
The company has applied to the SEC in the U.S. for a Bitcoin futures ETF that will hold spot Bitcoin.
ETFs are stock market investment funds whose value is derived from an underlying basket of assets such as stocks, bonds, commodities, and other financial instruments. Similarly, Bitcoin ETFs follow the value of BTC and trade on stock markets rather than cryptocurrency platforms.
Hashdex aims to integrate spot Bitcoin in its Bitcoin futures ETF and change the ticker to Hashdex Bitcoin ETF.
James Seyffart remarked that the method entails only performing exchange for relevant positions trades. This means exchanging futures contracts for equivalent spot exposure rather than making direct cash purchases from exchanges.
Seyffart sees a higher possibility of SEC approval, given the pressure on Gary Gensler as a result of the Grayscale litigation, Ethereum futures proposal, and BlackRock’s integration of the Coinbase surveillance sharing agreement.
Risk Disclaimer
Please note that this article does not offer any instructions or suggestions regarding investment decisions. Therefore, it is essential that you carefully evaluate your financial situation and conduct thorough analysis, or seek advice from a qualified professional, before making any investment decisions.
