Ethereum

James

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Hashdex, a Brazillian investment firm, has withdrawn its application for a spot Ethereum exchange-traded fund, according to a recent <a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-100234.pdf" rel="noopener noreferrer nofollow">filing</a>.&nbsp;
The firm jumped into the Ethereum ETF race back in November, with the Nasdaq exchange filing the application with the SEC. &nbsp; &nbsp; &nbsp; &nbsp;
The ETF proposed was supposed to offer investors exposure to both spot Ether and futures-based Ethereum contracts. The unique structure of the product made it an outlier among a slew of spot ETF proposals.&nbsp;
The filing stated that the inclusion of futures contracts would reduce dependence on the spot market, thus mitigating some market manipulation risks. &nbsp;&nbsp;
The SEC delayed its decision on Hashsex's Ethereum proposal on March 19. Back then, the SEC was widely expected to reject spot Ethereum ETF. Notably, leading analyst ETF James Seyffart <a href="https://x.com/JSeyff/status/1767733280818729229" rel="noopener noreferrer nofollow">predicted</a> that only Hashdex's application would be approved due to its unique structure if the spot applications were to be denied. &nbsp;&nbsp;Earlier this month, the regulator finally approved multiple spot Ethereum ETF applications, including the one from BlackRock. However, Hashdex's 19b-4 form did not get the green light from the SEC. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

Hashdex Withdraws Ethereum ETF Proposal After Snub from SEC

U_Today

Other articles published on May 29, 2024

SEC Ordered to Pay $1.8M After Debt Box Lawsuit Dismissed

Param Laabs and Pixelverse Enter A Cross-IP Agreement To Extend Development Across The Web3 Gamin...

NVIDIA's Q1 Results: AI Cryptos Poised for Massive Gains

Analyst Claims Even Crypto Newcomers Can Make a Fortune on These Low-Risk Altcoins

Deutsche Bank Tests Ethereum-Based Platform to Mitigate Margin Compression

Mastercard launches crypto credentials P2P pilot program to simplify transactions

Join our free newsletter for daily crypto updates!