Hashdex has made a bold move in the world of crypto ETFs by filing for a combined Bitcoin and Ethereum ETF. Nasdaq has taken a step forward by submitting an application to the SEC for the Hashdex Nasdaq Crypto Index US ETF.
The recent update from Nasdaq includes a filing for a hybrid spot and futures Ethereum ETF for Hashdex, which has been highlighted by CNF as a significant development in the crypto ETF landscape. The proposed ETF, named the Hashdex Nasdaq Ethereum ETF, is set to offer a new investment opportunity for enthusiasts.
President of ETFStore, Nate Geraci, recently shared news of the 19b-4 filing for a combined spot Bitcoin and Ethereum ETF, specifically for the Hashdex Nasdaq Crypto Index US ETF. The management and control of this ETF will be in the hands of Hashdex, with administration handled by Tidal ETF Services LLC. The SEC’s approval has paved the way for this exciting venture.
In order to provide a secure environment for investors, Hashdex plans to collaborate with Coinbase Custody Trust Company and BitGo Trust Company as custodians for the digital assets backing the ETF. This move aims to offer a reliable investment option in the volatile crypto market.
The Hashdex Nasdaq Ethereum ETF is designed to track the daily changes in the net asset value against the Nasdaq Crypto US Settlement Price Index, offering investors exposure to the growing crypto asset market. This innovative product is similar to single-asset ETFs approved by the U.S. SEC this year, allowing investors to access Bitcoin and Ethereum through traditional securities.
Market analysts have speculated that Grayscale may be following a similar path to gain approval for their GBTC Bitcoin ETF. The recent withdrawal of Hashdex’s spot Ethereum ETF application comes after the SEC approved similar proposals from other issuers like VanEck, Fidelity, and Grayscale.
BlackRock is also making progress with its Ethereum spot ETF, aiming for a launch on July 4th. The revised S-1 registration statement filed by BlackRock indicates significant advancement towards the launch of the spot Ethereum ETF.
With Bitcoin showing a price of $65,273.96 and a slight hourly increase of 0.51%, investors are closely watching the developments in the crypto ETF landscape. Stay updated with the latest Bitcoin news and market updates for informed investment decisions.