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The U.S. Securities and Exchange Commission (SEC) met with Bitcoin ETF applicant Hashdex this week, according to a Nov. 29 memo from the agency.

The discussion, which took place on Monday, Nov. 27., concerned a proposed rule change to allow NYSE Arca to list and trade shares of Hashdex’s Bitcoin ETF.

According to the SEC memo, two individuals from the SEC’s Office of the Chair met with three Hashdex members and one NYSE Arca member. A member of the legal firm Wilson Sonsini Goodrich & Rosati also attended.

An earlier filing indicates that some of the same individuals met to discuss the ETF with the SEC’s Division of Trading and Markets on Oct. 13.

Hashdex proposed to structure its fund by sourcing spot Bitcoin positions completely within CME’s regulated futures exchange. This would isolate the ETF from external spot markets, and address regulatory concerns about potential manipulation on unregulated spot exchanges by avoiding them entirely and interfacing solely with the regulated CME futures market.

The SEC published a delay notice regarding the proposal in question on Nov. 15. This required the agency to approve, disapprove, or begin proceedings to decide whether to disapprove the rule change by Jan. 1, 2024.

That deadline no longer applied as of Nov. 28, when the SEC began proceedings under the last option and opened a request for comments on the Hashdex Bitcoin Futures ETF. The SEC has not identified its current decision deadline.

No spot ETF involving Bitcoin or Ethereum has been approved in the U.S. to date, and Hashdex is one of many asset managers with a pending application.

Other competing applicants include the financial giants BlackRock and Fidelity, as well as other firms such as Ark Invest, Invesco, Grayscale, and Bitwise.

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