Hashdex, a firm specializing in managing crypto assets, recently updated their Bitcoin futures ETF application. They submitted this to the U.S. Securities and Exchange Commission (SEC).
At the same time, there’s a chance to approve the spot Bitcoin ETF. This might happen in the first few weeks of January. Why? The SEC added to the {Federal Register applications from Franklin Templeton and Hashdex.
Hashdex has amended its 19b-4 submission concerning a Bitcoin futures ETF, as reported in an NYSE Arca filing to the U.S. Securities and Exchange Commission (SEC).
Bloomberg ETF expert James Seyffart mentioned the update as a “suggestion for modifications to specific statements made in the past proposed rule change that was submitted to the Securities and Exchange Commission.”
The report confirms that Hashdex’s ETF is no longer tied to Teucrium ETFs. Now, the ETF belongs to Tidal Financial Group. This change comes from the October union of Teucrium Trust and Tidal Trust.
Hashdex’s Chief Executive, Marcelo Sampaio, has recently stated, “We dealt with the process surrounding the filing and probable approval of bitcoin spot ETFs in Brazil almost three years ago, a situation currently unfolding in the U.S.”
ARK Invest & 21Shares Lead Race For U.S. Bitcoin ETF Approval
Meanwhile, Hashdex, who also applied for a spot with the SEC, now has its Bitcoin ETF spotted in the Federal Register by the same US SEC. They should receive comments by Jan 5.
The SEC will probably okay the first spot in Bitcoin ETF in the U.S. The expected approval time is between Jan 5 and 10, 2024. ARK Invest and 21Shares are first in the queue for their spot in Bitcoin ETF to be approved. This approval is likely to happen on Jan 10.
Bitcoin (BTC) hit a record of $39,000. This happened when Jerome Powell, the Federal Reserve Chairman, suggested no upcoming rate increases. The Matrixport report indicated that the Bitcoin price might reach $60,000. We could see this before the next Bitcoin halving in April 2024.
BTC price jumped 3% in the past 24 hours, currently trading at $38,744. The 24-hour low and high are $38,085 and $38,954, respectively. Furthermore, the trading volume has increased slightly in the last 24 hours, indicating interest among traders.
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