Hashdex has filed an S-1 registration form with the SEC in its pursuit of a combined Bitcoin and Ethereum spot ETF.
The asset management firm submitted the S-1 filing for its new exchange-traded fund to the U.S. securities regulator just 48 hours after the Ethereum spot ETFs began trading on major exchanges in the country.
According to experts, the new presentation of the fund, called “ETF Hashdex Nasdaq Crypto Index US”, suggests that the company believes it is possible to obtain SEC approval for its upcoming crypto-based product, in addition to the fact that there is great enthusiasm among investors towards these digital assets.
Hashdex first filed its combined Bitcoin and Ethereum ETF on June 18, Sending The fund filed a 19B-4 registration form with the regulator. In it, it noted that the new Bitcoin and Ethereum ETF will allow investors to easily gain exposure to the top two cryptocurrencies by market capitalization, BTC and ETH, providing a regulated means to invest in these crypto assets without needing to directly own or hold them.
The filing of this fund, along with the S-1 registration form, represents an important milestone in accelerating the institutional adoption of cryptoassets.
Hashdex's Combined Bitcoin and Ethereum ETF: A Balanced Portfolio
According to the filing, the asset manager said the combined Bitcoin and Ethereum spot ETF will hold both assets in a tight manner to underscore a balanced portfolio for investors.
He also explained that, for the moment, the fund will start with only Bitcoin and Ethereum, although it is possible that, in the future, the listing of other crypto assets will be incorporated, subject to authorization from the SEC.
Overall, Hashdex seeks to provide its clients and investors with an easy on-ramp to cryptocurrencies through the fund’s shares, removing the technological complexities and operational burden associated with holding this emerging asset class.
In this regard, Nate Geraci, president of ETF Store, commented that the presentation of this fund by Hashdex lays the groundwork for the inclusion of other cryptocurrencies, in addition to Bitcoin and Ethereum, in traditional investment markets.
SEC approves Ethereum spot ETF listing
Hashdex’s S-1 filing for the Hashdex Nasdaq Crypto Index US ETF came just hours after the securities regulator approved the launch and listing of the Ethereum spot fund, which saw notable activity on its first day of trading, reaching a trading volume of over $1.000 billion and net inflows of $107 million.
Initially, Hashdex was to list an ether-based fund on the US market. However, the asset management firm withdrew its application several weeks ago.
Regarding its combined BTC and ETH ETF, the SEC acknowledged the filing made by Hashdex and published a notice to solicit public comments on the proposed rule change for the fund. This suggests that the asset management firm is moving forward with the federal agency.
In summary, 2024 has been an exceptionally favorable year for cryptocurrency-based spot ETFs. In January, Hashdex was one of the companies that obtained SEC approval to launch a Bitcoin spot exchange-traded fund, after a decade of rejection by the SEC of these financial investment vehicles.
