As 2024 continues to be the “year of ETF adoption” for the cryptocurrency world, the US Securities and Exchange Commission (SEC), which can no longer resist the demands, has taken another file under review.

The agency accepted and reviewed the 19b-4 file of asset management firm Hashdex’s spot ETF holding Bitcoin and Ether. Nate Geraci, chairman of the board of ETF Store, a company that advises on ETFs, gave the information on the subject via X.

Geraci tweeted, “Hashdex’s Nasdaq Crypto Index US ETF fund has been accepted for processing by the SEC. Now the clock is ticking. The ETF will hold both BTC and ETH.”

For now, the fund will only be open to institutional investors and, as Geraci said, will invest directly in Bitcoin and Ether. In order for the fund to officially open for trading, the S-1 filing must be approved after the 19b-4 filing. As it is known, Ether spot ETFs are also currently awaiting approval from the SEC for their S-1 filing. If this approval is received, ETFs will be officially opened for trading.

It may extend until March 2025

The SEC has also started the process of collecting public comments on the ETF. Even if these comments are positive, the agency has the right to delay the process, as it has done many times before… The SEC can extend the process until March 2025. However, it will have to make a final decision at that time.

Last week, VanEck also applied for a Solana spot ETF.