Hashdex Names BitGo as Bitcoin ETF Custodian as Applicants Continue SEC Meetings

CoinDeskPolicyPubblicato 2023-12-21Pubblicato ultima volta 2023-12-22

Introduzione

A bitcoin ETF may be approved or rejected in the first few days of the new year.

Would-be bitcoin exchange-traded fund (ETF) issuer Hashdex changed its paperwork Friday, naming BitGo as its bitcoin custodian and changing the name of its Bitcoin Futures ETF to the Hashdex Bitcoin ETF as it – and other companies – continue to hope for an approval for the U.S.'s first spot bitcoin ETF early in the new year.

Hashdex has come to an agreement with crypto custodian BitGo to according to an amended S-1 filing, a rare outlier among the over a dozen applicants. The vast majority have signed agreements with crypto exchange Coinbase, while Fidelity intends to self-custody and VanEck tapped Gemini, another exchange.

9.9K

The update comes a day after the SEC met with representatives from a number of other applicants.

Representatives from BlackRock, Valkyrie, Fidelity, Grayscale and Ark all spoke to officials with the SEC on Thursday, according to filings. The regulators set a Dec. 29 deadline for final amendments to the applications, Reuters reported.

STORY CONTINUES BELOW

Recommended for you:

Hopes that a spot bitcoin ETF will be given the regulatory green light in the near future have risen in recent weeks. A number of applicants have met with the SEC and filed various amendments to their applications, specifying that they will issue their ETFs with cash creation (if approved) rather than in-kind and addressing other minor details, suggesting the SEC is open to an approval.

Jan. 10, 2024 is the final deadline for the Ark 21Shares filing. Any approval or rejection from the SEC will have to come by that date, though Reuters reported that a decision may come as early as the first few days of the new year.

Letture associate

New Zealand's ACT Party Proposes to Abolish Capital Gains Tax on Cryptocurrency Transactions

The New Zealand political party ACT (Association of Consumers and Taxpayers) has proposed a significant policy update to modernize the country's approach to digital assets. A key proposal is the removal of the capital gains tax for retail investors who hold cryptocurrency assets for more than a year, aiming to position crypto as a viable long-term investment tool. Professional traders and businesses would remain under existing tax rules, and assets held for less than a year would still be taxed. Additionally, the plan would exempt small personal purchases paid with crypto from tax, promoting its use as a payment method. Other provisions include establishing clear regulatory and tax frameworks for stablecoins and tokenized securities, creating a regulatory "sandbox" for startups, and reviewing current policies to ensure crypto companies are not excluded from financial infrastructure. ACT Deputy Leader Nicole McKee stated the policy aims to unlock New Zealand's digital economy potential with clear rules and reduced bureaucracy, positioning the country as a hub for digital finance and innovation. This marks a shift from previously restrictive stances on cryptocurrency in New Zealand.

cryptonews.ru3 min fa

New Zealand's ACT Party Proposes to Abolish Capital Gains Tax on Cryptocurrency Transactions

cryptonews.ru3 min fa

BitGo Buys NYDIG's Trading Unit as Institutions Consolidate Crypto Services

On August 27, 2026, BitGo, a major regulated crypto custodian, announced the acquisition of NYDIG's institutional trading division. This move expands BitGo's service offerings to include derivatives, structured products, and lending services, allowing it to provide institutions with a more comprehensive, single-provider solution for custody, trading, and settlement. The deal adds approximately 30 NYDIG employees and their trading network to BitGo. The acquisition reflects a broader institutional trend towards consolidating digital asset services with fewer, regulated partners. A Fireblocks report from April 2026 indicated strong institutional budget allocation for such infrastructure, with 53% of surveyed firms spending at least $1 million. BitGo, which went public in January 2026, reported significant revenue and client growth alongside platform assets of $65.2 billion. Its regulatory standing, including a federal trust license, is a key factor for risk-conscious institutions. The deal also provides BitGo access to the crypto lending market, despite a recent quarterly decline reported by Galaxy Research, and aligns with growing activity on regulated derivatives venues like CME Group. However, this integration of multiple services attracts closer regulatory scrutiny. The Bank for International Settlements has warned that such crypto conglomerates could concentrate financial risks. For NYDIG, the sale marks a strategic shift to focus on its vertically integrated bitcoin mining and high-performance computing data center business.

cryptonews.ru3 min fa

BitGo Buys NYDIG's Trading Unit as Institutions Consolidate Crypto Services

cryptonews.ru3 min fa

A 49% stake in a Trump-linked crypto bank project is held by an Abu Dhabi royal family member: WSJ

A member of the Abu Dhabi royal family and his co-investors reportedly hold the largest stake in the holding company behind the proposed US trust bank, World Liberty Financial, according to the Wall Street Journal. Sheikh Tahnoon bin Zayed Al Nahyan's group, through StringZ Holding RSC, owns 49% of WLTC Holdings. Sources indicate an additional 38% is held by an entity linked to former US President Donald Trump's family. If fully approved, the bank would manage the issuance, redemption, and custody of the USD1 stablecoin under federal oversight. Sheikh Tahnoon serves as UAE's national security adviser and chairs AI firm G42, which recently gained US approval for advanced AI chip exports. The Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval in August, noting StringZ's investment and non-interference commitments. However, the bank cannot commence operations until meeting all OCC requirements. The deal, involving a prior $500 million investment by Tahnoon, has drawn scrutiny from US lawmakers.

cryptonews.ru19 min fa

A 49% stake in a Trump-linked crypto bank project is held by an Abu Dhabi royal family member: WSJ

cryptonews.ru19 min fa

Podcast Notes | After Watching 141 YouTube Investment Guru Videos, I Found Everyone's Bullish on These 5 Stocks

Podcast Summary: After analyzing 141 YouTube investment videos from 21 creators, five stocks were consistently highlighted: Alphabet (Google), Nvidia, Micron, CoreWeave, and Uber. However, the analysis reveals a key concentration: four of these (Google, Nvidia, Micron, CoreWeave) represent essentially the same AI-focused bet, with only Uber standing as an independent pick. The podcaster, Brian, provides his specific views and entry strategies for each. **Key Stocks & Brian's Stance:** - **Alphabet (Google):** Viewed as cheap based on profits but expensive based on sales. Brian is only buying a half-position via monthly investments at ~$362. - **Nvidia:** Models suggest it is undervalued (~$221 vs. a ~$290-330 fair value range), but significant client debt ($500B) raises risk. Brian holds a 12% position (his cap) and would not buy below $148. - **Micron:** Brian's model fair value is ~$1450, but it's a cyclical stock. He is buying only on schedule after it broke below its 50-day moving average (~$961), with a "story broken" line at $434. - **CoreWeave:** Has large contracts but faces scrutiny over demand sustainability, with Nvidia backing unsold capacity. Brian holds zero position due to limited history and structural concerns. - **Uber:** The only non-AI pick, valued cheaply on strong cash flow (~$100B annually). Brian's fair value is ~$109 (current price ~$67), and he is buying a full position. **Core Insight:** Most discussed topics (76/141 videos) were chips, cloud, and AI models. A portfolio built from such consensus may appear diversified but often constitutes a single, concentrated bet on AI. Brian concludes with a disciplined framework for any investment: compare to its own history, understand what the current price assumes, separate a good company from a good price, and pre-define your exit conditions.

marsbit53 min fa

Podcast Notes | After Watching 141 YouTube Investment Guru Videos, I Found Everyone's Bullish on These 5 Stocks

marsbit53 min fa

From 'Interest Rate Trading' to 'Dollar Debasement Trade', the Logic Behind Gold's Rise Has Changed

From "Rate Trade" to "Debasement Trade": The Logic Behind Gold's Rally Has Shifted Gold surged by 17% in August. According to UBS, the key development was a fundamental shift in the driving narrative mid-rally—from the traditional "rate trade" to a "debasement trade" focused on fiscal and dollar concerns. The bank breaks the summer rebound into two acts. The first was a technically-driven bounce from a solid base, supported by light positioning, resilient physical demand (especially from central banks like China's), and softening US economic data. The second act, triggered by the US Treasury's announcement to double long-term bond buybacks, marked a shift in gold's pricing logic. The market began viewing higher long-term yields as a sign of fiscal sustainability risks rather than economic strength, weakening gold's traditional inverse correlation with real rates. Gold's role evolved from an "opportunity cost" asset to a hedge against "fiscal credibility" and currency debasement, further aided by a weakening US dollar. UBS maintains a bullish outlook, noting rising upside risks to its long-term forecasts. While it lowered its 2026 year-end target to $4,675/oz, its 2027+ forecasts are unchanged, with an upside scenario target as high as $6,500/oz. The primary near-term risk is a hawkish Fed pivot, which could trigger a correction. However, UBS views any such dip as a buying opportunity, not a trend reversal, unless AI-driven growth allows for significantly higher rates. The report concludes that as gold is increasingly seen as a hedge against fiscal and currency risks, its strategic role in portfolios is changing. With overall gold allocations still low, there is significant room for further price appreciation if debt sustainability concerns drive sustained strategic buying.

marsbit53 min fa

Trading

Spot