Hashdex tips spot Bitcoin ETFs to trade by Q2, followed by Ethereum


Hashdex, one of the 13 asset managers vying for spot Bitcoin (BTC) exchange-traded fund, expects to see the first spot Bitcoin ETF in the United States land by the second quarter of 2024, followed by a spot Ether (ETH) ETF.#SEC continues its work on #spot #bitcoin ETFs
UK asset managers given go-ahead to launch ‘tokenized’ funds

& more!https://t.co/O8uESoYJ03

— Hashdex (@hashdex) December 4, 2023

While Bloomberg ETF analysts James Seyffart and Eric Balchunas have pinned 90% odds that spot Bitcoin ETFs will be approved in the days leading up to Jan. 10, 2024, Seyffart has previously noted that this refers only to the 19b-4 applications — and that a separate form, known as the “S-1,” must also be approved for an ETF to launch.

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Seyffart noted in November that “there could be weeks or even months between approval and launch.”

Companies use the S-1 form to inform the SEC of proposed rule changes and require sign-off from the agency’s Division of Corporation Finance.

Related: Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streak

In Hashdex’s report, Meite said spot Bitcoin and Ether ETFs would see “legacy asset managers with thousands of staff and trusted brands” offer their customers a crypto product for the first time.

He believed this would unlock a $50 trillion market, larger than Europe, Canada and Brazil combined — the only three global markets with spot crypto exchange-traded products.

Meite expected most of the interest in single-asset ETFs will focus on Bitcoin and Ether, “given their name recognition and little differentiation among incumbents.”

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Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in

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Author: Jesse Coghlan


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