US Regulator Delays Decision on Hashdex Nasdaq Crypto Index ETF

US Regulator Delays Decision on Hashdex Nasdaq Crypto Index ETF

The US Securities and Exchange Commission (SEC) has postponed its decision on whether to approve Hashdex's Nasdaq Crypto Index ETF. The product, if approved, would become the first diversified spot crypto ETF in the US market. The SEC's decision was due on March 31, but the regulator has extended the review period to April 18. This is the second time the SEC has delayed its decision on the ETF. Hashdex is a Brazilian asset management firm that has been working on the ETF for over two years. The ETF would track the Nasdaq Crypto Index (NCI), which is a market-cap weighted index of the top 10 cryptocurrencies. The NCI is composed of Bitcoin, Ethereum, Binance Coin, Ripple, Solana, Cardano, Polkadot, Litecoin, Dogecoin, and Bitcoin Cash. If approved, the Hashdex Nasdaq Crypto Index ETF would be a major milestone for the crypto industry. It would be the first diversified spot crypto ETF in the US market, and it would give investors a way to gain exposure to the crypto market without having to buy and store individual cryptocurrencies. The SEC's decision on the ETF is being closely watched by the crypto industry. If the ETF is approved, it could lead to a surge in investment in the crypto market. However, if the ETF is rejected, it could send a negative signal to investors and could slow the growth of the crypto industry.