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<ul>
 <li>Hashdex retracts Ether ETF application as SEC approves others.</li>
 <li>Hashdex’s Ether ETF mixed spot holdings and futures to curb risks.</li>
 <li>Hashdex launched an innovative Bitcoin ETF in January without a surveillance pact.</li>
</ul>
<p>Investment firm Hashdex recently decided to <a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-100234.pdf" target="_blank" rel="noopener noreferrer nofollow">withdraw</a> its application for a spot Ether exchange-traded fund (ETF), just as the U.S. Securities and Exchange Commission (SEC) approved similar applications from eight other firms.&nbsp;</p>
<p><strong>SEC Greenlights Multiple Ether ETFs</strong></p>
<p>The SEC’s recent endorsement of eight separate spot Ether ETF applications from heavyweights like VanEck and Fidelity marks a significant shift in the cryptocurrency landscape.&nbsp;</p>
<p>These ETFs are slated for a June <a href="https://cryptonewsland.com/eth-etf-approved-what-does-this-mean-for-the-crypto-market-and-when-will-eth-make-new-ath-this-cycle/" target="_blank" rel="noopener noreferrer nofollow">launch</a>, providing mainstream investors with a new vehicle for cryptocurrency exposure. This crowded field may have influenced Hashdex’s decision to retract its proposal, which sought a unique blend of spot and futures holdings in its ETF structure.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> WARNING<br><br>HASHDEX WITHDRAWS PROPOSAL FOR SPOT ETHEREUM ETF: SEC FILING</p>— Sensei (@SenseiBR_btc) <a href="https://twitter.com/SenseiBR_btc/status/1795849491821535427?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 29, 2024</a>
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<p><strong>Unique Strategy Behind Hashdex’s Initial Proposal</strong></p>
<p>Unlike others, who took the straightforward approach of pure spot Ether holdings, Hashdex’s proposal included a combination of Ether futures contracts and spot holdings. This strategy aimed to dampen the risk of market manipulation, a persistent concern for regulators. The firm intended to mirror the Nasdaq Ether Reference Price, daily reflecting market movements with a mix of assets, including cash.</p>
<p>Moreover, Hashdex is not new to the cryptocurrency ETF scene, having launched a Bitcoin ETF earlier in January. Their Bitcoin ETF also adopted an innovative approach by sourcing its holdings from physical exchanges within the Cated Market Environment, circumventing the need for a surveillance-sharing agreement that other funds typically require.</p>
<p>The firm has yet to comment on whether it will resubmit a revised proposal for its Ether ETF or shift its focus toward other ventures within the digital assets space. Meanwhile, the investment community watches closely as the landscape for cryptocurrency investment continues to evolve.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
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 <li><a href="https://cryptonewsland.com/approval-of-spot-eth-etf-signals-regulatory-shift/" rel="noopener noreferrer nofollow">SEC Approves SPOT ETH ETF, Recognizing ETH as Commodity</a></li>
 <li><a href="https://cryptonewsland.com/ethereum-spot-etf-may-not-be-approved-eth-price-drops-6/" rel="noopener noreferrer nofollow">Ethereum Spot ETF May Not Be Approved, ETH Price Drops 6%</a></li>
 <li><a href="https://cryptonewsland.com/eth-etf-approved-what-does-this-mean-for-the-crypto-market-and-when-will-eth-make-new-ath-this-cycle/" rel="noopener noreferrer nofollow">ETH ETF Approved, What Does This Mean for the Crypto Market and When Will ETH Make New ATH This Cycle?</a></li>
 <li><a href="https://cryptonewsland.com/grayscales-ethereum-futures-etf-exit-stirs-speculation/" rel="noopener noreferrer nofollow">Grayscale’s Ethereum Futures ETF Exit Stirs Speculation</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/hashdex-withdraws-ether-etf-application-eight-others-approved/" rel="noopener noreferrer nofollow">Hashdex Withdraws Ether ETF Application, Eight Others Approved</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Hashdex Withdraws Ether ETF Application, Eight Others Approved

Crypto News Land

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