Cryptocurrency asset manager Hashdex held a meeting with the US Securities and Exchange Commission (SEC) on October 13 to discuss its application for the Bitcoin Spot ETF, known as DEFI.
Details of the meeting were reported by cryptocurrency journalist Eleanor Terrett:
- Measures to Prevent Market Manipulation: This was identified as the biggest issue during the discussions. The SEC has expressed its willingness to ensure that adequate safeguards are in place to prevent any form of market manipulation.
- Custody-Sharing Agreement with a Regulated Market: Hashdex is expected to enter into a custody-sharing agreement with a regulated market. In this case, CME Group was identified as the regulated market for this deal.
- Physical Bitcoin Transactions in a Regulated Market: The SEC wants to ensure that physical Bitcoin transactions are bought and sold in a regulated market.
Bloomberg ETF analyst James Seyffart said the following on the subject:
“In case the SEC finds a way to reject all other Bitcoin ETFs (not my assumption), Hashdex's application is tailored to every argument the SEC has made in the past. “I don't think they can deny that.”
*This is not investment advice.
