SEC Delays Hashdex Bitcoin-Ethereum ETF Decision to September
The US Securities and Exchange Commission (SEC) has pushed back its decision on Hashdex's Bitcoin-Ethereum ETF until the end of September.
In a notice on 9 August, the SEC said it needed “sufficient time to consider the proposed rule change and the issues raised therein.” A new decision deadline has been set for 30 September 2024.
"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC stated.
Hashdex filed its registration with the SEC to hold Bitcoin and Ethereum in a joint ETF, shortly after withdrawing its original Ethereum ETF.
The crypto management firm's product would be the first ETF to hold both BTC and ETH in the American market.
Its 19b-4 form, submitted with Nasdaq, said the ETF would include cash holdings, with Coinbase Custody and BitGo designated as custodians. The ETF would track the Nasdaq Crypto US Settlement Price Index (NCIUSS).
@hashdex already has a crypto index ETF that's traded down in Brazil. These are the assets it currently holds and their weights in the fund. 90% is Bitcoin and Ethereum. pic.twitter.com/5yRCDsfUs0
— James Seyffart (@JSeyff) June 18, 2024
Last week, Grayscale, Bitwise, and Blackrock filed to list options on Ethereum ETFs. The SEC approved Ethereum ETFs to go live on exchanges in July but has not even authorized options trading on Bitcoin ETFs, which were listed in January.
ETH ETFs have attracted $1.5 billion in net inflows since their launch while BTC ETFs have a total market cap of $71 billion.