The acceptance of Hashdex’s application by the SEC marks a significant milestone in the potential approval process of a Bitcoin and Ethereum combined ETF, which could have a considerable impact on the cryptocurrency market. Recent green lights given to spot Bitcoin and Ethereum ETFs signal a positive shift in regulatory dynamics for forthcoming crypto ETPs.
In the latest Binance news update, it was revealed that the US Securities and Exchange Commission (SEC) has acknowledged receiving the 19b-4 application from Hashdex Nasdaq Crypto Index US ETF. This application was first announced by Nate Geraci, President of The ETF Store, through his X account. Notable community members, such as Collin Brown, shared their excitement for the future, noting the inclusion of spot Bitcoin and Ethereum in the application with an anticipated SEC decision by early March 2025.
Nate Geraci confirmed that the US SEC is now in possession of the 19b-4 application for the Hashdex Nasdaq Crypto Index US ETF, encompassing both spot Bitcoin and Ethereum. The decision from the SEC is anticipated by early March 2025, setting the stage for thrilling prospects ahead!
Moreover, as detailed in today’s CNF YouTube video, Geraci’s announcement signifies the SEC’s progression in reviewing the application. If approved, this will mark a significant milestone in the cryptocurrency realm, particularly for the industry’s leading cryptocurrencies, Bitcoin and Ethereum.
While the receipt of the application by the SEC does not assure approval, considering the historical rejections by the SEC on Bitcoin ETF applications, concerns persist regarding market manipulation and surveillance. The outcome of the Hashdex Nasdaq Crypto Index US ETF application will be closely watched in this context.
Highlighted by Nate Geraci, the ETF will be overseen by Hashdex and managed by Tidal ETF Services LLC, with custody arrangements handled by Coinbase Custody Trust Company and Bitcoin Trust. This application aligns with an overarching trend, with recent SEC approvals of spot Bitcoin and Ethereum ETFs setting the stage for additional crypto Exchange-Traded Products (ETPs).
Echoing a previous CNF report, market conditions continue to send mixed signals. Bitcoin’s value has seen a decrease while Ethereum demonstrates a minor upward trajectory. According to the latest CoinMarketCap data, Bitcoin (BTC) is currently valued at $62,583.44, reflecting a 3.09% increase over the past week as represented in the accompanying price chart.
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