Hashdex has filed for a groundbreaking combined Bitcoin and Ethereum ETF, marking a significant development in the world of crypto ETFs. Nasdaq has submitted an application to the SEC to list the innovative Hashdex Nasdaq Crypto Index US ETF.
In a recent update, Nasdaq has filed an application with the SEC to list a unique hybrid spot and futures Ethereum ETF for Hashdex. This move, highlighted by CNF, demonstrates a strong presence in the crypto ETF landscape. The proposed offering is known as the Hashdex Nasdaq Ethereum ETF.
Nate Geraci, President of ETFStore, took to Twitter to announce the 19b-4 filing for a combined spot Bitcoin and Ethereum ETF for Hashdex. The filing is specifically for the Hashdex Nasdaq Crypto Index US ETF.
Notably, the proposed ETF will be managed and overseen by Hashdex but administered by Tidal ETF Services LLC following the SEC’s approval of the S-1 application. Similar to other spot crypto ETF issuers, Hashdex plans to partner with Coinbase Custody Trust Company and BitGo Trust Company to act as custodians for the underlying digital assets of the ETF.
This innovative financial product aims to track the daily changes in the net asset value (NAV) of the Shares against the Nasdaq Crypto US Settlement Price Index, offering investors an alternative way to access the growing crypto asset market. The ETF, which combines digital assets BTC and ETH, is designed to provide institutional investors and retail traders with investment exposure to Bitcoin and Ethereum via the public securities market without the need to directly hold the cryptocurrencies.
Bloomberg ETF Research Analyst, James Seyffart, has suggested that Grayscale may be looking to replicate the conditions that led to the approval of their GBTC Bitcoin ETF.
This latest development comes shortly after Hashdex withdrew its spot Ethereum ETF application, following the approval of similar proposals from eight other issuers by the U.S. SEC, including VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest, 21Shares, Invesco, Galaxy, and BlackRock.
BlackRock is also making strides with its Ethereum spot ETF, with a potential launch date set for July 4th. Analysis indicates that approval could come within weeks. BlackRock recently updated its S-1 registration statement for a spot Ethereum ETF, filed on May 29, showing significant progress towards its launch.
Bitcoin (BTC) is currently priced at $65,273.96, showing a slight hourly increase of 0.51% after a 2.46% decrease in the past week.