Hashdex Files For One-Of-A-Kind Joint Spot Bitcoin and Ethereum ETF In The US ⋆ ZyCrypto
The post Hashdex Files For One-Of-A-Kind Joint Spot Bitcoin and Ethereum ETF In The US ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     We already have spot Bitcoin (BTC) exchange-traded funds (ETFs) trading on United States exchanges, while ETFs that give investors exposure to the industry’s second-largest crypto, Ether (ETH), have been partly greenlighted and should start trading soon. What’s next? Brazil-based digital asset management firm Hashdex has proposed a new ETF that directly owns BTC and ETH. Hashdex’s Hybrid Spot Bitcoin And Ethereum ETF In a move that marks another huge step forward for cryptocurrency investment in the United States, Hashdex wants to launch a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund (ETF) on the Nasdaq exchange. The asset manager filed an application with the Securities and Exchange Commission for the Hashdex Nasdaq Crypto Index US ETF, according to a June 18 form 19b-4. The filing notes that the product would balance the two largest cryptocurrencies as per their market caps, highlighted as 70.54% Bitcoin and 29.46% Ether. “A dual Ethereum and Bitcoin ETF filing from @hashdex just dropped.” Bloomberg ETF analyst James Seyffart said on Twitter (aka X). “Will be market cap weighted. Shouldn’t be a surprise to anyone — makes a lot of sense.” Update: A dual Ethereum and #Bitcoin ETF filing from @hashdex just dropped. Will be market cap weighted. Shouldn’t be a surprise to anyone — makes a lot of sense. Final deadline for SEC approval should be sometime around the first week of March 2025 pic.twitter.com/5wB7ucvbgM — James Seyffart (@JSeyff) June 18, 2024 If the SEC gives its regulatory blessing, Hashdex Nasdaq Crypto Index US ETF would be the first-ever exchange-traded fund (ETF) in the American market to directly hold both spot Bitcoin and Ether. Advertisement   While the Hashdex ETF intends to focus only on BTC and ETH for now, the filing clarifies that the company would not invest in “crypto…
Filed under: News - @ June 20, 2024 2:26 am