Hashdex joins fray, seeks spot Bitcoin ETF on heels of Grayscale setback
Crypto asset manager Hashdex has ignited excitement by submitting an application to the U.S. Securities and Exchange Commission (SEC) for a spot Bitcoin ETF. The filing outlines that the Hashdex Bitcoin ETF intends to directly source its Bitcoin assets from exchanges affiliated with the Chicago Mercantile Exchange market. Seasoned analysts, including James Seyffart from Bloomberg, have dissected the application, revealing a strategy primarily centered on exchange-traded position transactions. UPDATE: We have another entrant into the spot #bitcoin ETF race. @hashdex has filed to be able to hold spot bitcoin in their bitcoin futures ETF — $DEFI pic.twitter.com/zH0noPFw4l — James Seyffart (@JSeyff) August 25, 2023 This method involves trading futures contracts in exchange for equivalent spot exposure, differentiating it from direct cash purchases on other exchanges. You might also like: Europe’s new spot Bitcoin ETF boosts market share: BDSwiss The spot Bitcoin...