The Hashdex Bitcoin Futures ETF is now live on the New York Stock Exchange (NYSE). The product is trading under ticker “DEFI” following approval from the Securities and Exchange Commission (SEC). The approval of the ETF has reignited hope of a more lenient outlook on BTC spot ETFs from the SEC.
The Hashdex ETF is now live on the NYSE under ticker symbol DEFI
American online community for news Business 2 Community uncovered the development Friday. Per the report, following the SEC’s approval, Hashdex’s BTC Futures ETF recently started trading on the NYSE. The ETF would be the first approved BTC ETF under the 1933 Securities Act.
Data from the NYSE indicates that the ETF had already gone live as of press time, with a last value of $24.82. Several other Bitcoin Futures ETF had received approval before DEFI. Notwithstanding, they are all governed under the 1940 Investment Company Act.
The ETF was a joint effort from Hashdex, investment firm Treucrium Trading, and independent private financial advisor Victoria Capital Management.
The launch of the Hashdex Bitcoin Futures ETF showcases Hashdex’s ongoing commitment to delivering investors with innovative and regulated products and services that allow them to gain exposure to the digital asset class,
Co-founder and CEO of Hashdex, Marcelo Sampaio remarked.
He further noted that the launch of the ETF is a crucial achievement for Hashdex, as the firm looks to offer more products in the U.S. and globally. According to Sampaio, the firm will make sure that its products address the needs of every investor class.
The SEC has persistently rejected BTC spot ETF applications
Reports of the ETF’s approval have been received well by the crypto community, as proponents hope for a BTC spot ETF approval before long. Gary Gensler’s SEC remains in the habit of rejecting BTC spot ETF applications. The regulatory watchdog has rejected 16 BTC spot ETF applications thus far, citing a failure to meet its standards.
Most notably, the SEC rejected Grayscale’s request to convert its BTC trust fund to spot ETF in June after months of delay. Grayscale sued the regulatory body in response. The Chamber of Digital Commerce on Monday alleged in a report that the SEC’s wave of rejections is hinged on a political agenda.
Despite the BTC spot ETF rejections, the SEC has had a generally more positive response to BTC Futures ETF applications. Notwithstanding, none of these BTC Futures ETFs is under the 1933 Securities Act. The approval of the first ’33 Act BTC Futures ETF ignites hope of a renewed outlook on BTC ETFs.
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