SEC has delayed making a decision on Hashdex's application to convert its DEFI from a Bitcoin futures ETF to an ETF that holds both futures and spot.

Bloomberg analyst James Seyffart stated on X platform that Hashdex has updated its Bitcoin futures ETF (DEFI) filing with the SEC.

Analysts believe that the probability of Hashdex's spot-bitcoin exchange traded fund (ETF) application being approved by the Securities and Exchange Commission (SEC) is higher than that of the other 11 applicants due to its unique approach. The firm's application is building upon the SEC's guidance and will rely entirely on CME pricing. Hashdex aims to shift the investment strategy of its already trading Hashdex Bitcoin Futures ETF (DEFI) into one that can hold spot-bitcoin ETF. The firm's decision to use CME over Coinbase for the SEC's requirement of a surveillance-sharing agreement (SSA) could give it an edge over other applicants.

Asset manager Hashdex has reportedly met with the US Securities and Exchange Commission (SEC) to address concerns about its application for the Hashdex Bitcoin Futures exchange-traded fund (ETF) to hold spot Bitcoin. The meeting took place on 13 October and was attended by six SEC officials and representatives of Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates. Hashdex presented its mechanism for allowing spot Bitcoin to be traded and held in the ETF on the Chicago Mercantile Exchange, which the Commodity Futures Trading Commission regulates. The SEC may ask for more information before the application's first deadline on 17 November.