U.Today – As is already known, the SEC has acknowledged receipt of the 19b-4 filing for the US Hashdex Nasdaq Crypto Index ETF. If approved in early March 2025, it will include both Hashdex and its portfolio.
The term “19b-4” refers to a specific rule of the Securities Exchange Act of 1934 that outlines the process for reviewing and approving applications for certain types of ETFs. Simply put, it sets out the formal procedure and requirements for filing applications related to ETFs, ensuring compliance with regulatory standards and facilitating the SEC’s evaluation process.
Hashdex, known for its previous attempt to launch a spot Ethereum ETF, withdrew its proposal amid a competitive landscape. Now, the fund is shifting to a blended Bitcoin and Ethereum approach, allocating 70.54% to BTC and 29.46% to ETH. To ensure the safe custody of these assets, Hashdex plans to partner with Coinbase (NASDAQ:) Custody Trust Company and Bitcoin Trust.
A smart move by Hashdex?
The decision follows Hashdex’s strategic move in response to market dynamics, where an oversaturation of Ethereum-oriented products prompted a shift toward a broader cryptocurrency investment strategy. Public opinion on the ETF concept would influence the SEC’s final decision, potentially leading to further delays despite the initial positive reception.
Investors should keep a close eye on this development, seeing it as a potential milestone in the connection between traditional financial markets and the cryptocurrency sector.
As the SEC's “decision clock” begins to tick, industry experts like Nate Geraci anticipate heightened interest and scrutiny leading up to the expected approval date.
This article was originally published on U.Today
