Recently, the U.S SEC gave its approval to comparable bids from eight other issuers. However, Hashdex has officially decided to withdraw its planned spot Ethereum ETF, following the approval of the other bids. This decision by Hashdex comes after Nasdaq also announced the withdrawal of the Hashdex Nasdaq Ethereum ETF, as a result of the SEC’s approval of 19b-4 forms for eight Ethereum ETFs from well-established firms. The approval of these ETFs is expected to bring transparency and increased activity to Ethereum investments.
In September, Hashdex filed its first SEC filing, outlining its plans to establish a fund that would invest in Ether, Ether futures contracts on the CME, and other liquid assets. The ETF was to be managed by Toroso Investments, with the aim of providing regulated opportunities for investors to profit from Ethereum price fluctuations.
Before the approval of the 19b-4 forms, the proposed ETF faced public comments, including disapproval from Democratic senators and support from Republican representatives French Hill, Tom Emmer, and Josh Gottheimer. The SEC’s decision to approve additional Ethereum ETFs indicates a change in how Ethereum is treated as a commodity. However, before these issuers can start trading, their S-1 registration statements need to be approved. It is expected that it could take a few weeks for these ETFs to begin trading.
In other crypto news, Hong Kong’s SFC plans to enforce licensing compliance for crypto firms.
