The U.S. Securities and Exchange Commission (SEC) has postponed a decision on whether to approve Hashdex’s proposed ETF that would directly hold both Bitcoin and Ethereum.
The SEC announced Friday that it will extend the review period until September 30, 2024, to allow more time for evaluation.
“The Commission finds it appropriate to set a longer time period for taking action on the proposed rule change in order to have sufficient time to consider the proposed rule change and the issues raised therein,” the SEC said in a statement.
Hashdex, a crypto asset management firm, first filed its registration statement, known as the S-1, with the SEC on July 24, 2024. The proposed fund, called the Hashdex Nasdaq Crypto Index US ETF, is designed to hold both Bitcoin and ETH. However, the firm noted that the fund could potentially include additional assets in the future, depending on the evolution of the regulatory environment.
“If any crypto asset other than Bitcoin and ETH becomes eligible for inclusion in the Index, the Sponsor will switch to a sample replication strategy that includes only Bitcoin and ETH in the same proportions determined by the Index,” Hashdex explained in its S-1 filing.
*This is not investment advice.