Hashdex’s Bold SEC Filing Could Bring Bitcoin and Ether ETF to Nasdaq!

Last Updated on June 19, 2024

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Key Takeaways:

  • Hashdex has proposed a combined spot Bitcoin (BTC) and Ether (ETH) ETF to the SEC, aimed to be listed on Nasdaq.
  • The ETF will passively track the market capitalizations of BTC (70.54%) and ETH (29.46%) without attempting to outperform the market.
  • Custody of assets will be managed by Coinbase and BitGo, with a decision on the proposal expected by March 2025.

Hashdex has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund (ETF) on the Nasdaq exchange.

The ETF aims to reflect the market capitalizations of these cryptocurrencies, currently set at 70.54% Bitcoin and 29.46% Ether.

It will use a passive investment strategy to track daily market movements without trying to outperform the market.

James Seyffart, an analyst, believes a combined-asset ETF is logical.

The ETF will primarily invest in BTC and ETH but may include other eligible crypto assets if they meet certain criteria, such as being listed on a U.S.-regulated trading platform.

Custody of the assets will be managed by Coinbase and BitGo, ensuring segregated accounts for shareholders.

Hashdex has a history of crypto ETFs, including an indexed ETF in Brazil with BTC and ETH comprising 92% of its value and a U.S.-traded spot BTC ETF that includes BTC futures.

The SEC has 90 days to review the proposal and accept public comments. A final decision is anticipated by March 2025.

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