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Hashdex joins the Bitcoin Spot ETF race with a unique strategy

hashdexThe crypto asset management company has participated in the tender to start a crypto asset management company. stock traded fund (ETFs) bitcoins (bitcoin) stain in the United States. The company has filed an application with the US Securities and Exchange Commission (SEC). Application for a Bitcoin futures ETF that will hold the Bitcoin spot.

ETFs are exchange-traded mutual funds whose value is derived from a basket of key assets such as stocks, bonds, commodities, and other financial instruments. Same way, Bitcoin ETFs track the value of BTC and are traded on traditional markets rather than crypto exchanges.

Hashdex’s approach differs from recent applications in that Coinbase will not be bound by an oversight sharing agreement, opting instead for tracking sharing. Purchase of Spot Bitcoin from physical exchanges in the CME market. Second While NYSE Arca has filed a 19b-4 filing with the US SEC, Hashdex plans to include the Bitcoin spot in its futures ETF and rename the tick to be: Hashdex Bitcoin ETF.

Breaking News: NYSE filings have now turned into another ETF to be called the Hashdex Bitcoin ETF

Their questions are unique because Coinbase will not be used, spot BTC will be priced and purchased through the CME.

The fund will hold a mix of spot and futures positions.
It’s hard to fire Imo

— Alistair Milne (@alisairmilne) August 25, 2023

Some experts reacted to the announcement of Hashdex’s first-of-its-kind Bitcoin ETF. James SeyffartBloomberg analyst observed where the strategy is to trade only for relevant positions. This includes swapping futures contracts for equivalent spot risk.Instead of buying cash directly from exchanges.

Seyffart predicts increased likelihood of SEC approvalConsidering the pressure on Gary Gensler caused by cause grayscaleAnnouncement and incorporation of Ethereum futures Black Rock Coinbase custody sharing agreement.

Including other experts Nate GeraciChairman of Investor The ETF Store Alistair Milne and financial lawyer Scott JohnsonCommented on Hashdex’s announcement of its Bitcoin ETF. They believe this may alleviate some of the SEC’s concerns on the matter. To Bitcoin market manipulation and liquidity.

SEC and its chairman, Gary Gensler, they did not comment Applications for spot Bitcoin ETFs, streaming Ethereum ETFs, and potential approval of a spot Bitcoin ETF later this year.

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