Spot Bitcoin ETF: Hashdex Jumps Last Minute Hoops Ahead of Historic Approval

Godfrey Benjamin
January 11, 2024
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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.

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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.

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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.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.