Hashdex Updates Spot Bitcoin ETF Application and Resubmits to the SEC!

• Cryptocurrency asset management company Hashdex has submitted an updated Bitcoin futures ETF application to the U.S. Securities and Exchange Commission (SEC).
• The ETF will now come under Tidal Financial Group due to the merger of Teucrium Trust and Tidal Trust in October.
• The SEC will likely approve America’s first spot Bitcoin ETF between January 5-10, 2024.

Cryptocurrency asset management company Hashdex has resubmitted its spot Bitcoin ETF application by updating the file to the SEC: here are the details!

Hashdex Updates Spot Bitcoin ETF Application

Cryptocurrency asset management company Hashdex has submitted an updated Bitcoin futures ETF application to the U.S. Securities and Exchange Commission (SEC). Meanwhile, with the SEC publishing the applications of Franklin Templeton and Hashdex in the Federal Register, a window has opened in early January indicating the potential approval of the spot Bitcoin ETF.

Hashdex made an addition to the 19b-4 files, proposing changes for the Bitcoin futures ETF, which can be understood from a filing made by NYSE Arca to the U.S. Securities and Exchange Commission (SEC).

Bloomberg ETF analyst James Seyffart mentioned that the update is a “proposal to make some representation changes that were made in the previous proposal filed with the U.S. Securities and Exchange Commission.”

The file formalized that Hashdex’s ETF is no longer part of Teucrium ETFs. Due to the merger of Teucrium Trust and Tidal Trust in October, the ETF will now come under Tidal Financial Group. Hashdex CEO Marcelo Sampaio recently stated:

“The process we are currently going through in the U.S. is very similar to the one we went through in Brazil almost three years ago with spot Bitcoin ETF applications and potential approvals.”

Meanwhile, Hashdex’s spot Bitcoin ETF, which also submitted an application to the SEC simultaneously, has been published in the Federal Register. The deadline for submitting objection comments is January 5. The SEC will likely approve America’s first spot Bitcoin ETF between January 5-10, 2024. ARK Invest and 21Shares spot Bitcoin ETFs are in the first position for approval on January 10.

Bitcoin Approaches $39,000

Federal Reserve Chairman Jerome Powell’s indication that there will be no interest rate hikes in the future led Bitcoin (BTC) to reach a new peak at $38,999. Additionally, a report from Matrixport suggests that the price of Bitcoin could reach $60,000 before the next Bitcoin halving in April 2024.

The BTC price has increased by 3% in the last 24 hours, currently trading at $38,744. The 24-hour low and high values are $38,085 and $38,999, respectively. Also, the increased trading volume in the last 24 hours indicates interest among traders.