Brazil-based asset manager Hashdex became the first institution to receive Bitcoin (BTC) exchange-traded fund (ETF) approval under the “Securities Act of 1933” from the USA.
With more than 260 thousand users globally Hashdex launches its futures ETF in the US. Many futures ETFs have been launched on the US so far, but these are all “Investment Company Act” of 1940 was put into effect. If the Hasdex ETF “Securities Act” of 1933 approved and released to the market. The ETF, which started its first trading on Thursday, “DEFI” presented to users with the code.
This situation has a potential impact on users and cryptocurrency commentators. Probability of spot Bitcoin ETF increased his thoughts. Under the 1933 Act This initial approval for a cryptocurrency product is seen as a significant change in the way regulators think. It has long been used by the cryptocurrency community. US-approved spot Bitcoin ETFIt is known that , is expected and it is thought that if this situation occurs, it will have a positive effect on the markets.
Hashdex marketing manager Bruno Sousa made the following statements on the subject:
I think the review of crypto products is more about how the product itself works rather than the crypto review as a whole, and I think that’s a positive development. There is a growing normalization and acceptance of cryptocurrencies over time. At this point, we all need to put more effort into the bear market to produce something.
Although these positive statements of Sousa triggered excitement in the markets, there are also those who think that this situation will not change anything in the short term. USA based The ETF StorePresident Nate Geraci gave a speech to Bloomberg. in the statement, He noted that it seems unlikely that the United States will approve a spot Bitcoin ETF before establishing full regulatory control over cryptocurrencies.