Hashdex, a potential issuer of a bitcoin exchange-traded fund (ETF), updated its documentation, indicating BitGo as the custodian for its proposed Hashdex Bitcoin ETF. This change coincides with the company’s aspirations, along with several others, to secure approval for the first spot bitcoin ETF in the United States early in the upcoming year.
In an amended S-1 filing, Hashdex revealed its partnership with crypto custodian BitGo, deviating from the majority of other applicants who have engaged with crypto exchange Coinbase for similar purposes. Some like Fidelity plan to self-custody, and VanEck has partnered with Gemini, another exchange.
The recent update follows a meeting between SEC representatives and various ETF applicants. BlackRock, Valkyrie, Fidelity, Grayscale, and Ark were among those who engaged with SEC officials. The SEC has set a deadline of December 29 for final amendments to the applications, as reported by Reuters.
There’s growing optimism for the approval of a spot bitcoin ETF in the near future. Applicants have had discussions with the SEC and made adjustments to their applications, focusing on issuing their ETFs through cash creation (if approved) rather than in-kind, among other minor details. These developments suggest the SEC might be inclined towards granting approval.
The final deadline for the Ark 21Shares filing is January 10, 2024. Any decision from the SEC, whether approval or rejection, must come by that date. However, Reuters reported the possibility of a decision arriving as early as the first few days of the new year.
