Hashdex Names BitGo as Bitcoin ETF Custodian in Amended Application

  • Hashdex has updated its Bitcoin ETF filing, naming BitGo as its custodian.
  • The crypto asset management company also changed the name of its Bitcoin Futures ETF to the Hashdex Bitcoin ETF.
  • Hashdex’s update comes after the SEC met with representatives from some companies that applied for spot Bitcoin ETF.

One of the crypto asset management companies that applied for spot Bitcoin ETF, Hashdex, has updated its filing, naming BitGo, a digital asset trust and security company, as its custodian. According to reports, Hashdex also changed the name of its Bitcoin Futures ETF to the Hashdex Bitcoin ETF in the updated version of its filing.

Hashdex and several other spot Bitcoin ETF applicants are hoping for approval for the first US spot Bitcoin ETF early next year. The recent update to its filing has boosted expectations among Hashdex followers and other crypto enthusiasts paying attention to developments in the crypto industry.

The recent agreement with BitGo comes across as an outlier among other spot Bitcoin ETF applicants, most of whom have signed agreements with Coinbase, the leading crypto exchange in the US. Other applicants like Fidelity intend to self-custody, while VanEck is going with Gemini, another top crypto exchange.

Hashdex’s update comes after a meeting between the US Securities and Exchange Commission (SEC) and representatives from some companies that applied for spot Bitcoin ETF. According to reports, the SEC has set December 29 as the deadline for final amendments.

The SEC’s deadline and other developments have raised the hope of the crypto community, and many users believe there will be a spot Bitcoin ETF approval in the early days of next year. Notably, the final deadline for the Ark 21Shares filing is January 10, 2024. Hence, any approval or rejection from the SEC should come by that date.

Spot Bitcoin ETF approval is one of the factors that determined the trends in the Bitcoin market in 2023. Rumors about approval and expectations among crypto users have generated positive sentiments and are reflected in the prices of the flagship cryptocurrency and other altcoins. As we go into the new year, crypto users expect the decision by the SEC, whether positive or negative, to have a significant impact on the crypto market.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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