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<a href="https://bitcoinworld.co.in/us-sec-postpones-approval-of-hashdex-dual-bitcoin-and-ethereum-etf/" title="US SEC Postpones Approval Of Hashdex Dual Bitcoin And Ethereum ETF" rel="nofollow"></a>
The US Securities and Exchange Commission (SEC) has announced the postponement of the approval decision on a dual crypto spot ETF by Brazilian asset manager Hashdex.&nbsp; 
This development comes in view of a critical deadline in the approval process of the proposed investment fund. 
<h3 id="span-style-font-weight-400-sec-calls-for-time-to-review-hashdex-mixed-crypto-spot-etf-span">SEC Calls For Time To Review Hashdex Mixed Crypto Spot ETF</h3> 
On June 17, the Nasdaq Stock Exchange Market filed an application with the SEC, seeking a rule change that allowed for the listing of a combined Bitcoin and Ethereum ETF known as the Hashdex Nasdaq Crypto Index US ETF.&nbsp; 
Bitcoinist reported that this dual ETF, which represents the first of its kind, will consist of Bitcoin to Ethereum in a percentage of 70.54% to 29.46% with the remaining percentage containing cash for operational costs.&nbsp; 
However, the Hashdex mixed crypto spot ETF is also subject to the addition of other assets that meet specific criteria and qualification status. Meanwhile, American exchange Coinbase and cryptocurrency trust BitGo are designated custodians of assets invested in this fund.&nbsp; 
In line with the Securities Exchange Act, the SEC is mandated to issue a response on the application of commodity-based trust shares 45 days after filing.&nbsp; 
Albeit, this Act also allows the Commission to extend this vetting period to 90 days if required but such a decision should be made within the initially standard 45 days. 
<a href="https://www.sec.gov/files/rules/sro/nasdaq/2024/34-100681.pdf">According</a> to a brief on August 9, the SEC decided to delay its response to the Hashdex Nasdaq Crypto Index ETF. Although there were no explicit reasons for this decision, the Commission stated a need for time to consider all aspects of the proposed investment fund. 
Following this decision, the SEC is now expected to announce its verdict of approval or disapproval by September 30, as opposed to the previous deadline of August 16. 
<h3 id="span-style-font-weight-400-cboe-resubmits-bitcoin-etf-application-span">CBOE Resubmits Bitcoin ETF Application&nbsp;</h3> 
In other news, the Chicago Board Options Exchange (CBOE) has resubmitted its application for Bitcoin ETF options with the SEC.&nbsp; 
Commenting on this development, Bloomberg analyst James Seyffart <a href="https://x.com/JSeyff/status/1821691941257433234">stated</a> that the newly submitted application had 29 more pages than the previous one, indicating that the exchange may have been in conversations with the Commission.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 UPDATE: There's definitely some movement on Bitcoin ETF options. 
 CBOE just withdrew their application for options on spot <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs. Which sounds like a bad thing at first… But at the same time they just re-filed a brand new and updated application <a href="https://t.co/L8qYTDXzPb">https://t.co/L8qYTDXzPb</a> <a href="https://t.co/8BQG6JMROn">pic.twitter.com/8BQG6JMROn</a> 
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1821691941257433234?ref_src=twsrc%5Etfw">August 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
However, he notes that a time factor remains largely in play as a late response from the SEC could shift the approval deadline to April 25. Albeit, if both parties are already in communication, that may not be the case. 
A Bitcoin ETF option refers to financial derivatives that give investors the right, but not the obligation, to buy or sell shares of a Bitcoin ETF at a predetermined price before a specific expiration date. Bitcoin ETF options are used for hedging against price declines and betting on price movements.

US SEC Postpones Approval Of Hashdex Dual Bitcoin And Ethereum ETF

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