Skip to content Skip to sidebar Skip to footer

Hashdex, one of the 13 asset managers vying for a spot Bitcoin (BTC) exchange-traded fund, expects to see the first spot Bitcoin ETF in the United States land by the second quarter of 2024, followed by a spot Ether (ETH) ETF.“The exact timing of a spot Bitcoin ETF in the U.S. remains unclear, but in 2023, the narrative around this product switched from a question of ‘if’ to a matter of ‘when,’” said Hashdex’s U.S. and Europe head of product Dramane Meite in a 2024 outlook report, published on Dec. 4. “We believe U.S. investors will have access to a spot Bitcoin ETF by the second quarter of the new year and that a spot Ether ETF is likely to follow.”Hashdex is one of 13 asset managers with a spot Bitcoin ETF application before the U.S. Securities and Exchange Commission (SEC). It has also pitched a hybrid Ether ETF with futures and spot contracts to the regulator.⚡️ In our latest Hash InsiderHashdex releases our 2024 #Crypto Investment Outlook#SEC continues its work on #spot #bitcoin ETFsUK asset managers given go-ahead to launch ‘tokenized’ funds& more!— Hashdex (@hashdex) December 4, 2023

While Bloomberg ETF analysts James Seyffart and Eric Balchunas have pinned 90% odds that spot Bitcoin ETFs will be approved in the days leading up to Jan. 10, 2024, Seyffart has previously noted that this refers only to the 19b-4 applications and that the separate Form S-1 must also be approved for an ETF to launch.Seyffart noted in November that “there could be weeks or even months between approval and launch.”What Scott said: There are TWO paths that need to be completed for an ETF launch. Even if 19b-4 is approved, S-1s still need sign off from division of Corp Fin. No sign that’s done yet. Possible and even likely that there could be weeks or even months between approval & launch— James Seyffart (@JSeyff) November 8, 2023

Companies use Form S-1 to notify the SEC of proposed rule changes and require sign-off from the agency’s Division of Corporation Finance.Related: Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streakIn Hashdex’s report, Meite said spot Bitcoin and Ether ETFs would see “legacy asset managers with thousands of staff and trusted brands” offer their customers a crypto product for the first time.He believed this would unlock a $50 trillion market, larger than Europe, Canada and Brazil combined — the only three global markets with spot crypto exchange-traded products.Meite expected most of the interest in single-asset ETFs will focus on Bitcoin and Ether, “given their name recognition and little differentiation among incumbents.”Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

Source link

Leave a comment

Our Company




All Cryptos Insider © 2024. All rights reserved.

All Cryptos Insider © 2024. All rights reserved.