According to breaking information, the SEC postponed the Hashdex Bitcoin Spot ETF on the grounds that it needed more time.
The SEC has delayed Hashdex's Spot ETF application, Bloomberg analyst James Seyffart confirmed.
Hashdex filed to convert its bitcoin futures ETF into a spot bitcoin ETF in September.
The delays come amid growing anticipation for spot Bitcoin ETF approval by the federal regulator SEC, which has so far rejected every attempt to list such a product for the general investment audience.
While numerous companies have filed to launch spot bitcoin ETFs in 2023, several companies have also filed for similar products with exposure to Ethereum, the second-largest cryptocurrency by market cap.
The regulator has not yet indicated how it will ultimately decide on the latest applicants.
Previous rejections had raised concerns about Bitcoin's susceptibility to market manipulation and lack of brokerage agreements, among other concerns.
*This is not investment advice.