Hashdex has submitted a proposal to the Securities and Exchange Commission (SEC) for the creation of an exchange-traded fund (ETF) that would hold both Bitcoin and Ethereum, marking a significant development in the integration of digital assets into traditional investment vehicles.
Named the Hashdex Nasdaq Crypto Index US ETF, the proposed fund aims to provide investors with exposure to the two leading cryptocurrencies, reflecting their distribution in the Nasdaq Crypto Index. Bitcoin is expected to constitute approximately 70.54% of the ETF, with Ethereum making up the remaining 29.46%.
The ETF will adopt a market-cap-weighted strategy, aligning with the broader representation of cryptocurrencies in the Nasdaq Crypto Index. It will be supported by custodians Coinbase Custody Trust Company and BitGo Trust Company, ensuring robust security measures including cash reserves.
While the initial focus is on Bitcoin and Ethereum, Hashdex has indicated openness to potentially including other digital assets in the fund’s portfolio, contingent upon SEC approval.
This initiative arrives amid a favorable regulatory environment, following recent approvals of Bitcoin spot ETFs and the imminent introduction of Ethereum ETFs in the U.S. market. SEC Chair Gary Gensler’s recent statements to a Senate committee suggest a forthcoming regulatory framework that could pave the way for broader crypto ETF offerings, possibly including Ethereum ETFs as early as this summer.
If approved, the Hashdex Nasdaq Crypto Index US ETF could serve as a pivotal milestone in democratizing access to cryptocurrency investments, appealing to a wider range of traditional investors seeking exposure to the evolving digital asset market.
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