Hashdex's application to convert its ETF listed on the New York Stock Exchange (NYSE) into a Spot ETF has been postponed by the SEC.
SEC Bitcoin ETF Decision Postponed Once Again
The new date for ETF approval was January 1, 2024, according to regulatory documents. Interestingly, the regulator has deferred a large number of ETFs in the last few months.
Hashdex filed in September to convert its ETF listed on the New York Stock Exchange (NYSE) into a Spot ETF. This move was quite different from other filings because it used a new approach to managing the ETF's assets.
It is important to note here that Hashdex includes multiple assets including Bitcoin Futures Contracts, Spot Bitcoin, and cash.
The SEC filed a filing on November 15 confirming the delay in Hashdex's application. The regulator said it would extend the review period for another 45 days, adding that it needed more time to comprehensively evaluate the proposed rule change and address issues that arose during the evaluation process.
Today, the SEC postponed Franklin Templeton's spot Bitcoin ETF decision.
*This is not investment advice.
