SEC delays decision on Hashdex ETH ETF rule change
In a filing from Nov. 15, the SEC moved to delay any decision on Hashdex’s proposed ethereum ETF
Hashdex and Ellen.Covey/Shutterstock modified by Blockworks
The US Securities and Exchange Commission has delayed a decision on Hashdex’s proposed ethereum ETF rule change.
The move, confirmed by a filing dated Nov. 15, comes just days after the regulator similarly delayed Hashdex’s bitcoin ETF proposal.
If the SEC were to approve the rule change, the ETF would hold future and spot ether contracts.
According to the SEC’s filing, the Commission now has until Jan. 1, 2024 to make a decision or “institute proceedings to determine whether to disapprove the proposed rule change.”
The delay is one of the handful expected this week, including SEC decisions on the Franklin Templeton proposed spot bitcoin ETF. The SEC also postponed a decision on Grayscale proposed ethereum ETF rule change on Nov. 15.
The Grayscale delay, as noted by Bloomberg analyst James Seyffart, was not “remotely surprising.”
This isn’t the first round of SEC delays on recent bitcoin or ether spot ETF applications, either. Back in late September, the agency delayed the BlackRock and Valkyrie spot bitcoin ETF decisions.
Throughout the years, the SEC has issued over 30 rejections to a number of filers including the Winklevoss twins. The spot bitcoin race really began heating up in July of this year after BlackRock — the world’s largest asset manager — tossed its hat in the ring. BlackRock has faced a very few number of rejections for their funds, pumping the optimism for eager ETF watchers.
In October, eagle-eyed viewers noted that the asset management firm seemed to take a step closer to a possible green light from the SEC after the ETF was listed on the Depository Trust and Clearing Corporation’s website. However, a DTCC spokesperson later told Blockworks that the move did not signal a possible approval by the SEC.
BlackRock has also thrown its hat in the ring for a possible spot ether ETF.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- 0xResearch: Alpha directly in your inbox.
- Lightspeed: All things Solana.
- The Drop: Apps, games, memes and more.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
