Hashdex has filed for a groundbreaking Bitcoin and Ethereum ETF, marking a significant step 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 development, Nasdaq filed an application with the SEC for a unique spot and futures Ethereum ETF for Hashdex. This move, highlighted by CNF, demonstrates a strong presence in the crypto ETF market. The proposed ETF is named the Hashdex Nasdaq Ethereum ETF.
Nate Geraci, President of ETFStore, shared news about the 19b-4 filing for a combined Bitcoin and Ethereum ETF. This filing is for the Hashdex Nasdaq Crypto Index US ETF.
The proposed ETF will be managed by Hashdex and administered by Tidal ETF Services LLC. Following SEC approval of the S-1 application, Hashdex plans to partner with Coinbase Custody Trust Company and BitGo Trust Company to act as custodians for the digital assets of the ETF.
The innovative financial product aims to track the changes in the Shares’ net asset value against the Nasdaq Crypto US Settlement Price Index, providing investors with a new way to access the growing crypto market. Similar to single-asset ETFs approved by the U.S. SEC this year, this ETF offers exposure to Bitcoin and Ethereum for institutional investors and retail traders through the public securities market.
Bloomberg ETF Research Analyst, James Seyffart, suggests that Grayscale may be trying to replicate the conditions that led to the approval of their GBTC Bitcoin ETF.
This development comes shortly after Hashdex withdrew its spot Ethereum ETF application, following the U.S. SEC’s approval of similar proposals from eight other issuers, including VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest, 21Shares, Invesco, Galaxy, and BlackRock. Grayscale also withdrew its Ethereum Futures ETF application, sparking speculation among analysts.
BlackRock is making progress on its Ethereum spot ETF, with a potential launch on July 4th. Recent revisions to its S-1 registration statement indicate significant steps towards approval, with potential launch in the coming weeks.
Bitcoin is currently priced at $65,273.96, showing a slight increase of 0.51% hourly after a 2.46% decrease in the past week.