Hashdex tailored its Bitcoin ETF application to defeat any and all of the SEC’s arguments to deny its approval. The fund will acquire physical Bitcoin from CME-regulated exchanges instead of using Coinbase SSA. BlackRock, being recently charged by the SEC, potentially wavered the optimism of spot BTC ETF approval among investors, which Hashdex could correct.
Commending this approach, James Seyfart, a Bloomberg ETF analyst, called the ETF undeniable for the SEC. He tweeted, “In the event that the SEC finds a way to deny all other #Bitcoin ETFs Hashdex’s application is tailored to every argument SEC has made in the past. I don’t think they’ll be able to deny this one. Hashdex and NYSE Arca executives recently met with members of the SEC to discuss the regulatory body’s concerns regarding this approach.
Source: Digital Coin News (digitalcoinnews.net)
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