Hashdex is filed with the SEC over the space Bitcoin ETF application

The Hashdex Bitcoin Futures Exchange Traded Fund (ETF) recently held a meeting with the US Securities and Exchange Commission to address concerns about the regulator's proposed application to allow it to hold bitcoin, a source familiar with the matter told Cointelegraph.

According to a memo released by the Commercial Markets Division, the meeting took place on October 13 and was attended by six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group and law firm K&L Gates.

At the meeting, Hashdex introduced Hashdex, which allows trading and trading in ETFs on the Chicago Mercantile Exchange (CME), which is regulated by the Commodity Futures Trading Commission.

Hashdex differs from other Bitcoin apps because it doesn't have an intelligence sharing agreement with crypto exchange Coinbase. Instead, Hashdex Point proposes to acquire BTC from physical exchanges in the CME market, thereby making it entirely dependent on CME price transactions, according to an SEC filing with NYSE Arca in late August.

According to a presentation shared with SEC officials at this month's meeting, the strategy was built on the commission's Teucrium order, which states that the Bitcoin futures market is sufficiently developed to support financial products that want exposure to BTC.

As a next step, the SEC may request more information before the initial filing deadline of Nov. 17, according to a person familiar with the matter.

Hashdex claims to have more than $380 million in assets under management and 14 exchange-traded products (ETPs) in seven countries.

SEC approves Hashdex's Bitcoin Futures ETF in April 2022 The product has been listed on NYSE Arca since September last year. If the rule change is approved, the ETF will also be able to hold positions in Bitcoin.

Several major asset managers are vying to list the first Bitcoin ETF in the United States. BlackRock's ETF proposal was recently listed on the Depository Trust & Clearing Corporation (DTCC), suggesting approval may be on the way, according to Bloomberg ETF analyst Eric Balchunas.

“The current consensus is that the SEC will approve all position ETFs within three months,” the source said.

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