Hashdex Nasdaq Crypto Index ETF Still Not Approved Until September 30

Key Points:

• The Securities and Exchange Commission has delayed its decision regarding Hashdex Nasdaq Crypto Index ETF approval.
• The ETF will be the first diversified spot crypto ETF in the United States if the approvals come through.

The US Securities and Exchange Commission has delayed a decision on the Hashdex Nasdaq Crypto Index ETF, which would give investors exposure to both Bitcoin and Ethereum in one exchange-traded fund.

Read more: Bloomberg Analyst: Bitcoin ETF Options May Be Launched in Q4

SEC Puts Off Hashdex Nasdaq Crypto Index ETF Decision

The delay, as announced on August 9, shifted the initial review period past the usual 45 days. It came after Nasdaq’s request, which aimed to gain approval for the ETF listing on June 17. In the case it would create, the Hashdex Nasdaq Crypto Index ETF would be truly amazing, as it would represent the first diversified spot crypto ETF in the United States, thus probably including alternative cryptocurrencies.

The SEC has pushed back the deadline for determining the proposal’s fate—to approve, disapprove, or further deliberate on the matter—to September 30. This is happening at a time when cryptocurrency investment products are gaining interest, right after the agency gave nods to Bitcoin and Ethereum ETFs.

Nasdaq Files for Options Trading on Ethereum ETFs

The ETF can’t trade until the SEC approves its registration application—called an S-1—and allows Nasdaq to list it. Previously, Nasdaq filed a change requesting listing options on Ethereum ETFs that would target BlackRock’s iShares Ethereum Trust, ETHA, which already trades on the exchange. So far, the SEC has not greenlit any options trading on spot Bitcoin or Ethereum ETFs.

Back in July, the SEC told options exchanges—including Nasdaq ISE—more time was needed to consider applications for listing options on spot Bitcoin ETFs.