Crypto asset management firm Hashdex has entered the U.S. spot Bitcoin ETF race with a unique approach.
Crypto asset management company Hashdex has joined the competition for a spot Bitcoin exchange-traded fund in the United States. The firm has submitted an application to the U.S. Securities and Exchange Commission for a Bitcoin futures ETF that will hold spot Bitcoin.
ETFs are investment funds that trade on a stock market, with their value derived from an underlying basket of assets such as stocks, bonds, commodities and other financial instruments. Similarly, Bitcoin ETFs track BTC’s value and trade on traditional stock exchanges rather than crypto exchanges. Hashdex’s approach differs from recent filings as it won’t depend on the Coinbase surveillance sharing agreement, opting to acquire spot Bitcoin from physical exchanges within the CME market.
to a 19b-4 filing by NYSE Arca with the U.S. SEC, Hashdex intends to include spot Bitcoin in its Bitcoin futures ETF and modify the name, changing its ticker to Hashdex Bitcoin ETF.Their application is unique in that it will not use Coinbase, they will use prices and acquire spot BTC via CME.
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