Global Crypto asset management firm Hashdex is no longer at risk of missing out on the first wave of applicants that will get a positive node from the United States Securities and Exchange Commission (SEC) for its spot Bitcoin ETF push.

Hashdex Updates its S-1 Filing

In an eleventh-hour move, Hashdex has filed an updated prospectus to reflect the last-minute changes required for its spot Bitcoin ETF application to fly with the SEC. 

Notably, Hashdex is seeking a strategy change, rather than a completely new filing like the rest of its peers. Despite this strategy change, the company is obligated to abide by the guidelines the SEC has been laying down to guarantee its spot amongst the first wave that will bag approvals any moment from now.

The updated prospectus gave deeper insights into the risks that investors can expect to face if they choose to get aboard its spot Bitcoin ETF which will be listed under the ticker symbol “DEFI.” 

Hashdex has invested reasonably well in its pursuit of the strategy change with its efforts thus far ranging from community education to the release of one of the most unique commercials targeting the product. Infact, Hashdex has released two different commercials, as it looks to position itself right in the ongoing marketing wars.

By becoming more upfront with the spot Bitcoin ETF risk disclosures, and its fee pegged at 0.90%, the firm believes it has the best possible chance to bag the approval from the SEC.

Spot Bitcoin ETF Pursuit Enters Final Lapse

According to Fox Business Senior Correspondent, Charles Gasparino, at least one of the applicants for the spot Bitcoin ETF has confirmed the plans by the SEC that one of the products will be approved by the end of trading on January 10.

There has been chatter that the markets regulator will approve all spot Bitcoin ETFs at the same time to remove the first-mover advantage that one single asset manager can get to dominate the market.

In recent moves from the Chicago Board Options Exchange (CBOE), preparations have been made to expedite the registration process for Ark 21Shares, Bitwise, and Fidelity Investments among other ETF issuers in hopes they can start trading almost immediately from the time the final approval from the SEC is officially secured.

The post Spot Bitcoin ETF: Hashdex Jumps Last Minute Hoops Ahead of Historic Approval appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am