Hashdex Drops its Spot Ether ETF Application

Investment manager Hashdex has withdrawn its application for a proposed spot Ether exchange-traded fund (ETF). This decision was revealed in a filing dated May 28th with the United States Securities and Exchange Commission (SEC).

Hashdex had submitted the application for a rule change on May 24th, but decided to take it down a day after the SEC approved eight similar financial products. No specific reasons were given for the withdrawal and it is unclear if Hashdex will resubmit their proposal.

According to a source familiar with the application, Hashdex will no longer be pursuing a single asset Ether ETF.

This news comes after the SEC approved 19b-4 filings from several other firms, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise, paving the way for spot Ether ETFs to be listed and traded on various exchanges. These funds are expected to launch in June.