Join the hunt for $12,000,000+ in NEXO Tokens!

Learn More

Nasdaq withdraws Hashdex's proposed Ethereum ETF

The SEC did not announce approval of Hashdex's ETF application in its May 23 decision.

Nasdaq withdraws Hashdex's Ethereum ETF filing

Share this article

Nasdaq has retracted its proposal to list the Hashdex Nasdaq Ethereum ETF, as indicated in a recent filing. The withdrawal, dated May 24, 2024, comes shortly after the US Securities and Exchange Commission (SEC) greenlit 19b-4 forms for eight similar Ethereum ETFs.

As an Ethereum ETF was previously planned, the company’s decision came as a surprise. Currently, there is no information regarding the reason for the withdrawal.

In September last year, Nasdaq filed a proposal on behalf of the Brazilian fund manager for its Hashdex Nasdaq Ethereum ETF. The Hashdex Nasdaq Ethereum ETF is a physically backed ETF that aims to offer investors exposure to Ether.

The SEC delayed ruling on Hashdex’s spot Ethereum fund in November, with the final deadline set for May 30, 2024.

On May 23, the SEC approved spot Ethereum ETFs from eight issuers, including BlackRock, Bitwise, ARK Invest/21Shares, Invesco/Galaxy, Franklin Templeton, VanEck, Invesco, and Fidelity. However, the securities agency did not announce approval of Hashdex’s ETF application.

Additionally, Hashdex was the only issuer without an amended 19b-4 filing ahead of the Ethereum ETF decision.

Most ETF issuers rushed to submit their amended 19b-4s last week. Nasdaq filed an updated 19b-4 form for BlackRock’s proposed spot Ethereum ETF on May 22, just a day before the verdict.

Share this article