Hashdex Withdraws Ethereum ETF Proposal After Snub from SEC

The firm jumped into the Ethereum ETF race back in November, with the Nasdaq exchange filing the application with the SEC.

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. The filing stated that the inclusion of futures contracts would reduce dependence on the spot market, thus mitigating some market manipulation risks.

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 Seyffartthat only Hashdex's application would be approved due to its unique structure if the spot applications were to be denied.

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. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Proposal for Hashdex's Ethereum ETF has been withdrawnA proposal to list and trade shares of the Hashdex Nasdaq Ethereum ETF has been withdrawn, according to a filing posted this week.
Source: TheBlock__ - 🏆 464. / 53 Read more »

BlackRock Amends Ethereum ETF Application; Bloomberg’s Balchunas Sees ETF Going Live By JuneShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »

Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filingsEthereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC).
Source: FXStreetNews - 🏆 14. / 72 Read more »

Grayscale withdraws its Ethereum Futures ETF applicationCryptocurrency asset management firm Grayscale has withdrawn its 19b-4 application for its Ether futures ETF in a May 7 filing to the SEC.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Grayscale Withdraws “Trojan Horse” Ethereum Futures ETFThe withdrawal probably means that Grayscale is not going to sue the SEC one more time
Source: Utoday_en - 🏆 295. / 63 Read more »