Hashdex Files for a Bitcoin Futures ETF which will Hold Spot BTC


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Hashdex, a global leader in cryptocurrency asset management, has been added to the list of platforms requesting a spot Bitcoin exchange-traded fund (ETF) in the US. 

Looking into the Hashdex Bitcoin Futures ETF

For a Bitcoin futures ETF that will contain spot Bitcoin, the company has filed a request to the securities and exchange commission (SEC) of the United States. The strategy used by Hashdex, however, varies from that of prior filings in that it will not rely on the Coinbase surveillance sharing arrangement and will instead buy spot Bitcoin through real-world exchanges in the CME market. 

Industry Experts Respond

Hashdex aims to incorporate spot Bitcoin as part of its Bitcoin futures ETF and change its moniker by altering its ticker to Hashdex Bitcoin ETF, in accordance with a 19b-4 filing by NYSE Arca with the U.S. SEC.

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Hashdex’s new Bitcoin ETF filing has prompted responses from experts like James Seyffart, an analyst at Bloomberg, who pointed out that the company’s business plan primarily entails executing exchanges for linked positional trades. Seyffart sees a higher possibility of SEC approval, given the increase in pressure on Gary Gensler as a result of the Grayscale litigation, Ethereum futures proposal, and BlackRock’s integration of the Coinbase surveillance sharing agreement.

Hashdex ETF Application will Allay SEC’s Concerns

Additionally, investor Alistair Milne, Nate Geraci, president of The ETF Store, and Scott Johnsson, an accounting lawyer, have given feedback to Hashdex’s original Bitcoin ETF proposal. They think it would allay some of the SEC’s concerns about manipulating the markets and liquidity for bitcoin.

Bitcoin ETF Applications Pending with the SEC

An important development was the disclosure of a “surveillance-sharing agreement” between Coinbase and BlackRock in an amended filing about the company’s attempt to launch a spot Bitcoin exchange-traded fund (ETF).

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Considering the SEC hasn’t yet approved any spot ETF linked to crypto assets, despite multiple applications, the issuance of a spot Bitcoin (BTC) ETF has turned into a competition. In the midst of the entire uproar, The Wall Street Journal reported that the US SEC is anticipated to approve a number of proposals for Ethereum futures exchange-traded funds (ETFs) altogether.

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