SEC Delays Approval Decision on Hashdex Bitcoin ETF
The United States Securities and Exchange Commission (SEC) has pushed back the decision on Bitcoin exchange-traded fund (ETF) approval for Hashdex.
This comes at a time when the crypto community is speculating over the several applications awaiting a decision on approval from the US SEC.
New Year Delay for HashDex Bitcoin ETF Application
The SEC recently published a statement, outlining a decision delay for the Hashdex Bitcoin ETF until the new year. “The Commission, pursuant to Section 19(b)(2) of the Act,5 designates January 1, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.” Bloomberg analyst Eric Balchunas commented following the announcement that he doesn’t see the “SEC letting these late to party filings’ dates interrupt things.” “My take has always been we wake up one day in coming weeks to news 19b-4s are approved, with many details will play out,” Meanwhile, on a similar tone James Seyffart commented on the matter shortly after: “There’s the delay order for hashdex’s application to convert DEFI from a bitcoin futures ETF to an ETF that holds both futures and spot.”
Recent Speculation Surrounding Approval of Bitcoin ETF
This comes after reports that the SEC may approve Bitcoin ETFs as soon as this week.
On November 13, BeInCrypto reported on Grayscale Investment’s CEO Michael Sonnenshien’s comments regarding Bitcoin ETFs.
He declared that “it’s been a ten-year dress rehearsal. We’re ready for the main event.”
Meanwhile, BlackRock, the world’s largest asset manager, has underscored several pivotal risk factors associated with Bitcoin ETFs:
“There is no assurance that Bitcoin will maintain its value in the long, intermediate, short, or any other term. In the event that the price of Bitcoin declines, the [BlackRock] expects the value of the Shares to decline proportionately.”
The post SEC Delays Approval Decision on Hashdex Bitcoin ETF appeared first on Crypto News Australia.
Filed under: Bitcoin - @ November 16, 2023 2:44 am