SEC Postpones Verdict on Groundbreaking Bitcoin-Ethereum ETF

The US Securities and Exchange Commission (SEC) has decided to delay its ruling on a dual cryptocurrency spot ETF submitted by Brazilian firm Hashdex.

This extension affects the timeline for the ETF, which seeks to combine Bitcoin and Ethereum investments.

The Nasdaq Stock Exchange Market applied for a rule change with the SEC on June 17 to list the Hashdex Nasdaq Crypto Index US ETF. This innovative ETF plans to allocate 70.54% to Bitcoin and 29.46% to Ethereum, with a small portion held in cash for operational expenses. Coinbase and BitGo have been named as custodians for the fund.

According to the Securities Exchange Act, the SEC must respond to such applications within 45 days but can extend this period to 90 days if needed. On August 9, the SEC announced it would need more time to evaluate the Hashdex ETF, moving the decision date to September 30 from the initial August 16 deadline.

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In another development, the Chicago Board Options Exchange (CBOE) has resubmitted its application for Bitcoin ETF options, indicating ongoing discussions with the SEC. The revised application is significantly more detailed, suggesting progress in their talks. A Bitcoin ETF option allows investors to hedge or speculate on Bitcoin ETF prices within a set timeframe.

These moves highlight the SEC’s cautious approach to approving new cryptocurrency investment products, reflecting the complexity and regulatory scrutiny involved.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.