BitGo secured as custodian in uncommon agreement
Hashdex’s amended S-1 filing discloses a partnership with BitGo, a departure from the trend where the majority of ETF applicants have opted for agreements with crypto exchange Coinbase. This atypical decision positions Hashdex uniquely among the over a dozen applicants, emphasizing the company’s strategic diversification in custodial arrangements.
SEC meetings and decisive deadline loom
The disclosure follows a recent meeting between the U.S. Securities and Exchange Commission (SEC) and representatives from several ETF applicants, including industry giants such as BlackRock, Valkyrie, Fidelity, Grayscale, and Ark. These interactions took place with regulators setting a final deadline for amendments to applications on December 29, signaling the critical juncture in the SEC’s decision-making process.
As applicants fine-tune their proposals, addressing intricate details such as cash creation for ETFs and engaging in discussions with the SEC, the heightened activity implies a potential openness from regulators towards granting approvals. The SEC’s verdict on the applications, including Hashdex’s, is expected to be unveiled by January 10, 2024. Notably, sources suggest that an announcement may be made in the early days of the new year.
Hashdex Bitcoin ETF awaits regulatory green light
It is essential to know that with the SEC signaling a willingness to engage with proposed amendments and specifications, optimism has surged regarding the approval of a spot bitcoin ETF in the near future. The dynamics of custodial arrangements, as evidenced by Hashdex’s collaboration with BitGo, add an intriguing dimension to cryptocurrency investment products.
