Submit ETF review request ‘19b-4’ to SEC
The final evaluation announcement deadline is March next year.
ETF application does not include tracking ratio
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The application submitted by Hashdex described an ETF that tracks the spot prices of Bitcoin and Ethereum. It was presented as NASDAQ as the ETF exchange, and Coinbase and Bitgo were specified as custodians of Bitcoin and Ethereum. The clear tracking ratio between the two digital assets (cryptocurrencies) was not specified.
The deadline for the SEC's final review announcement is March next year.
Hashdex launched a Bitcoin spot ETF early this year and then attempted to launch an Ethereum spot ETF, obtaining 19b-4 approval from the SEC last month. Hashdex suddenly announced that it would give up on launching the Ethereum spot ETF market, just ahead of the approval of the securities report 'S-1s' from the SEC for the launch of the Ethereum spot ETF market. Afterwards, they announced plans to launch a spot ETF combining Bitcoin and Ethereum.
Experts believe that it is entirely possible for a spot ETF combining Bitcoin and Ethereum to be launched on the market. Eric Balchunas, a Bloomberg ETF researcher, said, “A spot ETF combining Bitcoin and Ethereum is not surprising,” and added, “ETFs are weighted by the market capitalization of the assets they follow, so an ETF combining the two digital assets could well be launched.” He explained.
Reporter Seungwon Kwon ksw@
