The SEC’s receipt of Hashdex’s application marks a significant milestone in the potential approval of a combined Bitcoin and Ethereum ETF, with far-reaching implications for the crypto market.
Despite previous rejections, the recent approval of spot Bitcoin and Ethereum ETFs indicates a positive shift in the regulatory landscape for future crypto ETPs.
Binance news recently reported that the US Securities and Exchange Commission (SEC) has acknowledged the receipt of the 19b-4 application from Hashdex Nasdaq Crypto Index US ETF. This news was initially shared by Nate Geraci, the President of The ETF Store, on his X account.
Collin Brown, a member of the crypto community, echoed the excitement surrounding this development in a tweet, highlighting that the application includes spot Bitcoin and Ethereum. The SEC is expected to make a decision on this matter by early March 2025.
Geraci’s announcement, as discussed in today’s CNF YouTube video, signifies that the SEC is actively reviewing the application. If approved, it would have a significant impact on the cryptocurrency market, particularly for Bitcoin and Ethereum.
While the receipt of the application by the SEC does not guarantee approval, it is important to consider previous SEC rejections of applications for Bitcoin ETFs. Concerns about market manipulation and a lack of market surveillance still persist, raising questions about the outcome of the Hashdex Nasdaq Crypto Index US ETF application.
As highlighted by Nate Geraci, the ETF would be managed by Hashdex and administered by Tidal ETF Services LLC. Custody agreements would be established with Coinbase Custody Trust Company and Bitcoin Trust. This filing is part of a larger trend, as the SEC recently approved spot Bitcoin and Ethereum ETFs, paving the way for other crypto Exchange-Traded Products (ETPs).
As previously reported by CNF, the market currently displays mixed signals. While Bitcoin’s value is experiencing a decline, Ethereum is maintaining a slight upward trend. CoinMarketCap data indicates that Bitcoin (BTC) is currently trading at $62,583.44, demonstrating a 3.09% increase over the past week, as shown in the price chart below.
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