``` Hashdex tips spot Bitcoin ETFs to trade by Q2, followed by Ethereum - Coin Postman
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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.

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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.”

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