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Hashdex Forges New Territory with Cash-Only Approach in Bitcoin ETF S-1 Filing

In a groundbreaking move, Hashdex has submitted an S-1 filing for their Bitcoin ETF, signaling a novel direction by aiming to pioneer a cash-only creation and redemption application within the realm of DEFI (Decentralized Finance).

First highlighted by James Seyffart, an analyst at Bloomberg Intelligence, this initiative by DEFI, known for its trading endeavors, is poised to incorporate exposure to spot Bitcoin. However, critical details regarding the custodian for spot Bitcoin remain undisclosed, raising questions about the operational structure.

Expressing skepticism about imminent approvals, Seyffart indicates a potential timeline for approval falling between Jan. 8 and 10, hinting at regulatory processes unfolding in the new year.

Amidst these developments in the spot Bitcoin ETF arena, Eric Balchunas, Bloomberg’s Senior ETF Analyst, observes a competitive edge brewing between industry titans BlackRock and Grayscale. Balchunas, citing scheduling details for SEC meetings, notes a slight lead for BlackRock with a 5-4 advantage. His analysis, shared on X, suggests a brewing rivalry between these entities, projecting potential future battles in terms of assets and trading volumes.

As the holiday season approaches, the competitive drive within the spot Bitcoin ETF race remains unwavering, demonstrating a continued fervor and determination among contenders in this dynamic market segment.

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