As a researcher with a background in financial markets and experience following the regulatory landscape of cryptocurrency-related securities, I find Hashdex’s decision to withdraw its proposal for a spot Ethereum ETF noteworthy. The company’s reversal comes just days after the SEC approved similar proposals from eight other established issuers, such as VanEck, Fidelity, and Grayscale.
As an analyst, I’d rephrase it as follows: I’ve learned that Hashdex has chosen to abandon its application for a spot Ethereum Exchange-Traded Fund (ETF) with the SEC, following the recent approval of eight other applicants’ proposals by the U.S. Securities and Exchange Commission (SEC).
Hashdex Withdraws Spot Ethereum ETF
On Tuesday, Nasdaq announced its intention to withdraw the filing for the Hashdex Nasdaq Ethereum ETF, indicating a change in Nasdaq’s approach. This move came following the Securities and Exchange Commission (SEC) granting 19b-4 forms to eight Ethereum ETF proposals from established firms such as VanEck, Fidelity, Franklin Templeton, Grayscale, Bitwise Asset Management, ARK Investment Management, Invesco, and Galaxy Digital, as well as BlackRock’s iShares Ethereum Trust.
As a researcher studying the Ethereum investment landscape, I believe that incorporating approved Ethereum Exchange-Traded Funds (ETFs) into one’s portfolio could bring about significant changes. These funds are anticipated to introduce increased transparency and liquidity to Ethereum investments, potentially influencing market dynamics in a noticeable way.
As a crypto investor, I’m excited about Hashdex’s plans to launch an Ethereum investment fund through an SEC filing in September. This fund will not only invest in Ether itself but also in Ether futures contracts on the Chicago Mercantile Exchange (CME), as well as cash equivalents. With Toroso Investments, a registered commodity pool operator, managing the fund, it provides a regulated avenue for investors like me to gain exposure to Ethereum’s price movements.
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2024-05-29 20:07