Hashdex Engages With SEC Over BTC DeFi ETF Filing
Digital asset management firm Hashdex has discussed with the SEC about their ETF filing to purchase physical Bitcoin.
The memorandum, which included a presentation from Hashdex, cites the Teucrium Order from April 2022, which affirmed that the CME Bitcoin futures market has reached a level of maturity that can support ETPs aiming to gain exposure to Bitcoin by holding CME Bitcoin futures contracts.
The SEC has not observed any adverse impact on settlement prices, spreads, or roll costs of CME Bitcoin futures contracts stemming from the presence or influence of Bitcoin futures ETFs.
Hashdex concludes that trading this ETP would have a less significant influence on CME prices since open interest has grown nearly 50% since 2022.
The unique features of the filing address the Commission’s market manipulation concerns and will provide major safeguards for investors.
(With inputs from Shikha Singh)
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