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.
JUST IN: Hashdex files joint spot #Bitcoin and Ethereum ETF with the SEC, Bloomberg ETF analyst reports.
— Watcher.Guru (@WatcherGuru) June 18, 2024
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.
So bringing something like this to the US makes complete sense as a future goal. Ticker for that ETF in Brazil is $HASH11 pic.twitter.com/N3E3BP6hPT
— James Seyffart (@JSeyff) June 18, 2024
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.
Bit-thereum
— The Wolf Of All Streets (@scottmelker) June 18, 2024
Hashdex has proposed to the SEC a combined spot Bitcoin and Ethereum ETF to be listed on the Nasdaq.
The ETF aims to balance both assets based on market cap, with BTC at 70.54% and ETH at 29.46% as of May 27. It will passively track the Nasdaq Crypto US Settlement… pic.twitter.com/36nkSNt541
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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