Notable Absence of Hashdex in Latest Round of S-1 Bitcoin ETF Amendments

Industry Observers Take Notice of Digital Asset Management Firm Hashdex's Exclusion from Latest S-1 Amendment Wave

Hashdex conspicuously missing from recent changes to S-1 Bitcoin ETF applications

Notable Absence of Hashdex in Latest Round of S-1 Bitcoin ETF Amendments Source: Adobe / Backcountry Media

In the latest wave of amended S-1 filings by multiple asset managers on January 8, the notable absence of digital asset management firm Hashdex has caught the attention of industry observers.

The firm, which already offers a Bitcoin futures-based exchange-traded fund (ETF) with the ticker DEFI, did not submit an amended form alongside other firms, raising questions about the status of its spot Bitcoin ETF application.

DEFI ETF screenshot Source: Screenshot from Hashdex-etfs.com/defi

On January 5, Hashdex filed a 19b-4 amendment form, but it did not participate in the January 8 filing round alongside companies like Valkyrie, WisdomTree, BlackRock, VanEck, Invesco, Galaxy, Grayscale, ARK Invest, and 21Shares.

🤔 Why didn’t Hashdex submit an amended form?

The absence of Hashdex has sparked speculation about the reasons behind their decision not to issue an amended form on the same day as its counterparts. It’s possible that they have a different strategy or are waiting for a more opportune moment to submit their application. Only time will reveal their true intentions.

Conversion from Hashdex Bitcoin futures ETF

According to Bloomberg ETF analyst Jeff Seyffart, Hashdex’s Bitcoin ETF application differs from others as it aims to convert an existing Bitcoin futures ETF rather than launch an entirely new product from scratch.

For that reason, Seyffart said in a post on Twitter that he was “not gonna read too much into that yet.”

Hashdex originally submitted its application to the US Securities and Exchange Commission (SEC) in August of last year, proposing a futures investment vehicle that can also hold spot Bitcoin.

Additionally, Hashdex’s ETF launch last year attracted attention from industry observers like Bloomberg’s senior ETF analyst Eric Balchunas, who said it was notable that the application was “filed under the 33 Act, which [Gensler] has said doesn’t have enough [investor] protections vs [the] 40 Act.”

This is a “good sign for spot,” Balchunas said at the time, referring to the potential for a spot Bitcoin ETF approval.

The SEC is widely expected to greenlight applications from multiple ETF issuers to launch the first spot Bitcoin ETFs in the US this week, with many pointing to Wednesday January 10th as the most likely approval date.

Q&A

Q: Why is the absence of Hashdex significant? A: The absence of Hashdex in the latest round of S-1 filings raises questions about the status of their spot Bitcoin ETF application. It’s unusual for a prominent digital asset management firm to opt out of submitting an amended form alongside other industry players.

Q: What makes Hashdex’s Bitcoin ETF application different from others? A: Hashdex’s application aims to convert an existing Bitcoin futures ETF, rather than launching a completely new product. This distinction sets them apart from other applicants and may have influenced their decision not to participate in the recent filing round.

Q: When can we expect the SEC to approve the first spot Bitcoin ETFs? A: Many industry insiders believe that the SEC may approve multiple spot Bitcoin ETFs this week, with January 10th being a highly anticipated date. The approval of these ETFs could have significant implications for the cryptocurrency market and investment landscape.

🚀 Future Outlook and Investment Recommendations

The potential approval of spot Bitcoin ETFs in the US could have a significant impact on the cryptocurrency market. If approved, these ETFs would provide investors with a more accessible and regulated way to invest in Bitcoin, potentially attracting a flood of new capital into the market.

Investors should consider the implications of this development on the overall crypto ecosystem. With increased institutional adoption and mainstream acceptance, the price of Bitcoin and other cryptocurrencies may experience significant upward momentum.

However, it’s important to remain cautious as volatility and market fluctuations are inherent to the crypto industry. Investors should carefully assess their risk tolerance and do thorough research before making any investment decisions.

In conclusion, while the absence of Hashdex in the recent S-1 filing round may raise eyebrows, it’s crucial to keep a close eye on the SEC’s upcoming decisions regarding spot Bitcoin ETF approvals. These developments could shape the future of Bitcoin investment options and provide new opportunities for investors looking to enter the market.


What are your thoughts on the potential approval of Bitcoin ETFs? Share your opinions and insights in the comments below! And don’t forget to share this article on your favorite social media platforms to join the discussion with your friends.

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