``` Hashdex tips spot Bitcoin ETFs to trade by Q2, followed by Ethereum - Coin Postman
Your reliable guide in the crypto world, providing comprehensive news and analysis on all things related to cryptocurrency.

Hashdex tips spot Bitcoin ETFs to trade by Q2, followed by Ethereum

Hashdex, one of many 13 asset managers vying for a spot Bitcoin (BTC) exchange-traded fund, expects to see the primary spot Bitcoin ETF in the US land by the second quarter of 2024, adopted by a spot Ether (ETH) ETF.

“The precise timing of a spot Bitcoin ETF within the U.S. stays unclear, however in 2023, the narrative round this product switched from a query of ‘if’ to a matter of ‘when,’” said Hashdex’s U.S. and Europe head of product Dramane Meite in a 2024 outlook report, revealed on Dec. 4.

“We consider U.S. traders may have entry to a spot Bitcoin ETF by the second quarter of the brand new yr and {that a} spot Ether ETF is prone to observe.”

Hashdex is one of 13 asset managers with a spot Bitcoin ETF utility earlier than the U.S. Securities and Change Fee (SEC). It has additionally pitched a hybrid Ether ETF with futures and spot contracts to the regulator.

Whereas Bloomberg ETF analysts James Seyffart and Eric Balchunas have pinned 90% odds that spot Bitcoin ETFs will be approved within the days main as much as Jan. 10, 2024, Seyffart has beforehand famous that this refers solely to the 19b-4 functions and that the separate Kind S-1 should even be authorised for an ETF to launch.

Seyffart famous in November that “there might be weeks and even months between approval and launch.”

Corporations use Kind S-1 to inform the SEC of proposed rule modifications and require sign-off from the company’s Division of Company Finance.

Associated: Bitcoin the ‘main beneficiary’ as crypto funds notch 10-week streak

In Hashdex’s report, Meite stated spot Bitcoin and Ether ETFs would see “legacy asset managers with hundreds of workers and trusted manufacturers” supply their prospects a crypto product for the primary time.

He believed this could unlock a $50 trillion market, bigger than Europe, Canada and Brazil mixed — the one three world markets with spot crypto exchange-traded merchandise.

Meite anticipated many of the curiosity in single-asset ETFs will deal with Bitcoin and Ether, “given their identify recognition and little differentiation amongst incumbents.”

Journal: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in