Hashdex has officially withdrawn its proposal for a spot Ethereum ETF. The withdrawal was made only a week after the U. S. Securities and Exchange Commission (SEC) gave green light to similar proposals from eight other issuers.
Hashdex Withdraws Spot Ethereum ETF
Nasdaq filed the notice of withdrawal for the Hashdex Nasdaq Ethereum ETF on Tuesday, which signaled a shift in the company’s direction. This decision came in the wake of the SEC approving 19b-4 forms for eight Ethereum ETFs from traditional players like VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy and BlackRock’s iShares Ethereum Trust.
The approved ETFs are expected to provide the Ethereum investment with a new level of openness and turnover, which will likely have an impact on the market.
Hashdex’s initial filing with the SEC was made in September and it planned to launch a fund that will invest in Ether, Ether futures contracts on the CME, and cash equivalents. Managed by Toroso Investments, a registered commodity pool operator, the ETF aimed to offer investors a regulated pathway to gain exposure to Ethereum’s price movements.
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The post Breaking: Hashdex Nasdaq Withdraws Spot Ethereum ETF appeared first on CoinGape.
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