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News

Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons

May 29, 2024 - Around 2 mins mins to read

Key Points:

  • Hashdex spot Ethereum ETF application has been withdrawn, with the reasons undisclosed.
  • Withdrawal reflects market uncertainty with the wider trend of ETF application retractions persisting amid SEC scrutiny.
Citing documents with the U.S. Securities and Exchange Commission, digital asset management company Hashdex has pulled its application for a spot Ethereum Exchange Traded Fund.
Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons
Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons 2

Hashdex Spot Ethereum ETF Application Withdrawn

The company has yet to explain why it pulled back, and the move had been quite surprising after the company had shown interest in launching Hashdex spot Ethereum ETF.

The United States Securities and Exchange Commission has given the go-ahead for spot Ether exchange-traded funds in the country. The move comes after major players like VanEck, BlackRock, and Fidelity got approval for 19b-4 filings for such a fund—the major breakthrough for Ether-based ETFs. On the list of approved spots, the application of Hashdex spot Ethereum ETF did not include that, which seems to differ in regulatory treatment.

Though 19b-4 filings have been cleared, the ETF issuers now wait for the green signal from the SEC on their S-1 registration statements, a process that may take days, weeks, or months. There is, however, a sense of urgency within the industry, as evidenced by the SEC directive to fast-track filings on 20 May. Amendments to remove staking clauses are seen across multiple filings, indicating regulatory fine-tuning.

Market Hesitancy and Regulatory Scrutiny Impact ETF Landscape

An ETF is a collective investment fund that trades on stock exchanges, providing investors with exposure to the price movements of Ethereum without the need to own the underlying asset. With the withdrawal of Hashdex spot Ethereum ETF application, there are concerns over the fate of Ethereum ETFs, possibly indicative of market hesitation. However, it is important not to link this decision to the market performance of Ethereum.

This is part of an emerging trend where companies are retracting their applications for cryptocurrency ETFs, even as the SEC has not allowed any such product to come to market. Interest in the ETFs market, however, still remains intense.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ethereum

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons

Key Points:

  • Hashdex spot Ethereum ETF application has been withdrawn, with the reasons undisclosed.
  • Withdrawal reflects market uncertainty with the wider trend of ETF application retractions persisting amid SEC scrutiny.
Citing documents with the U.S. Securities and Exchange Commission, digital asset management company Hashdex has pulled its application for a spot Ethereum Exchange Traded Fund.
Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons
Hashdex Spot Ethereum ETF Application Now Withdrawn For Unknown Reasons 4

Hashdex Spot Ethereum ETF Application Withdrawn

The company has yet to explain why it pulled back, and the move had been quite surprising after the company had shown interest in launching Hashdex spot Ethereum ETF.

The United States Securities and Exchange Commission has given the go-ahead for spot Ether exchange-traded funds in the country. The move comes after major players like VanEck, BlackRock, and Fidelity got approval for 19b-4 filings for such a fund—the major breakthrough for Ether-based ETFs. On the list of approved spots, the application of Hashdex spot Ethereum ETF did not include that, which seems to differ in regulatory treatment.

Though 19b-4 filings have been cleared, the ETF issuers now wait for the green signal from the SEC on their S-1 registration statements, a process that may take days, weeks, or months. There is, however, a sense of urgency within the industry, as evidenced by the SEC directive to fast-track filings on 20 May. Amendments to remove staking clauses are seen across multiple filings, indicating regulatory fine-tuning.

Market Hesitancy and Regulatory Scrutiny Impact ETF Landscape

An ETF is a collective investment fund that trades on stock exchanges, providing investors with exposure to the price movements of Ethereum without the need to own the underlying asset. With the withdrawal of Hashdex spot Ethereum ETF application, there are concerns over the fate of Ethereum ETFs, possibly indicative of market hesitation. However, it is important not to link this decision to the market performance of Ethereum.

This is part of an emerging trend where companies are retracting their applications for cryptocurrency ETFs, even as the SEC has not allowed any such product to come to market. Interest in the ETFs market, however, still remains intense.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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