Hashdex’s product, which takes into account changes in the market value of two flagship crypto assets at once, could have become the first universal ETF on the American market. However, the SEC’s qualification panel of experts considered the launch of the financial product premature and requiring further study.
“The Commission believes it is appropriate to establish a longer regulatory action period for the proposed ETF rule change to allow the Commission sufficient time to consider the implications of the decision,” the SEC said.
At the time of filing for approval of the universal ETF, Hashdex notified the regulator that its fund would track the Nasdaq Cryptocurrency Settlement Price Index of the United States (NCIUSS), while Coinbase Custody and BitGo would hold BTC and ETH.
Earlier, Matthew Sigel, head of digital asset research at VanEck, said that an exchange-traded fund tied to the Solana cryptocurrency could be offered to investors in the near future.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
