News and Analytics

The first bitcoin ETF will appear no earlier than April 2024
0

The first bitcoin ETF will appear no earlier than April 2024

Dec 5, 2023

Hashdex, one of the first companies to announce the launch of an exchange-traded fund for bitcoin in the United States, announced that the new product may appear in the second quarter of next year. Dramane Meite, head of Hashdex products in the USA and Europe, notes that the exact time of the release of bitcoin ETFs in the USA has not yet been determined, but investor interest in this product has become very noticeable, and now discussions have switched from the "if" question to the "when" question.

He also expressed the opinion that access to bitcoin ETFs for American investors will be possible in the second quarter of next year, and after that we can expect the release of ether ETFs.

Hashdex is currently awaiting approval of its application to issue a bitcoin ETF from the U.S. Securities and Exchange Commission (SEC), along with 12 other applications from other companies. In addition, the company presented to the regulator a hybrid ether ETF with futures and spot contracts.

According to Bloomberg analyst James Seyffart, there is a time window for approving applications from American companies for spot bitcoin ETFs, which falls between January 5 and January 10, 2024. He made this conclusion after studying internal SEC documents.

Positive sentiment among traders related to the possible approval of a spot ETF for bitcoin in the United States contributed to the growth of the first cryptocurrency. According to CoinMarketCap, the cost of bitcoin reached $42,108 on the afternoon of December 4.

Comments

Latest analytics

Binance Launchpool:...

Binance Launchpool: A Tool for Earning New Project Tokens

World Liberty Financial:...

World Liberty Financial: Innovative Decentralized Finance...

Show more

Latest Dapp Articles

Show more

You may also like