Asset manager Hashdex recently met with the U.S. Securities and Exchange Commission (SEC) to address concerns about its application for a Bitcoin Futures exchange-traded fund (ETF). The meeting, which took place on October 13, included representatives from Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates. Hashdex presented its mechanism for trading and holding spot Bitcoin in the ETF on the Chicago Mercantile Exchange (CME), relying on CME pricing for transactions. Unlike other spot Bitcoin applications, Hashdex does not have a surveillance-sharing agreement with Coinbase and instead proposes to acquire spot BTC from physical exchanges within the CME market. The SEC may request more information before the application’s first deadline on November 17. Hashdex currently manages over $380 million in assets and has 14 exchange-traded products (ETPs) across seven countries. The SEC approved Hashdex’s Bitcoin Futures ETF in April 2022, and if the rule change is approved, the ETF will be able to hold spot Bitcoin as well. Other asset managers are also vying to list the first spot Bitcoin ETF in the United States, with BlackRock’s proposal recently listed on the Depository Trust & Clearing Corporation (DTCC), indicating potential approval. The general consensus is that the SEC will approve all spot ETFs within three months.

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Information	Details
Geography	North America
Countries	🇧🇷 🇺🇸
Sentiment	neutral
Relevance Score	1
People	None
Companies	Depository Trust & Clearing Corporation (DTCC), Bloomberg, Tidal Financial Group, NYSE Arca, Chicago Mercantile Exchange (CME), Teucrium Order, BlackRock, K&L Gates, Commodity Futures Trading Commission (CFTC), Coinbase, Hashdex, Cointelegraph, U.S. Securities and Exchange Commission, Division of Trading Markets
Currencies	Bitcoin
Securities	None