The term “19b-4” refers to a specific rule under the Securities Exchange Act of 1934 that outlines the process for reviewing and approving applications for certain types of ETFs. Simply put, it establishes the formal procedure and requirements for filing applications related to ETFs, ensuring compliance with regulatory standards and facilitating the SEC’s evaluation process.
Hashdex, known for its previous attempt at a spot Ethereum ETF, withdrew its proposal amid a competitive landscape. Now, the fund is shifting to a combined Bitcoin-Ethereum approach, allocating 70.54% to BTC and 29.46% to ETH. To ensure secure custody of these assets, Hashdex plans to partner with Coinbase (NASDAQ:COIN) Custody Trust Company and Bitcoin Trust.
Investors better be watching this development closely, viewing it as a potential milestone in bridging traditional financial markets with the crypto sector.
As the SEC’s “decision clock starts ticking,” industry experts like Nate Geraci anticipate heightened interest and scrutiny leading up to the expected approval date.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
