Ethereum
Hashdex targets first dual Bitcoin-Ethereum ETF in US
Hashdex has submitted a proposal to the Securities and Exchange Commission (SEC) for the creation of an exchange-traded fund (ETF) that would hold both Bitcoin and Ethereum.
The proposed ETF, named Hashdex Nasdaq Crypto Index US ETF, is designed to provide investors with ownership in the two largest cryptocurrencies, reflecting their distribution in the Nasdaq Crypto Index.
This initiative marks an important step towards the integration of digital assets into conventional financial instruments, potentially expanding the accessibility of cryptocurrencies to a wider range of investors.
The composition of the ETF reflects the Nasdaq Crypto Index, with Bitcoin and Ethereum making up approximately 70.54% and 29.46% of the fund, respectively.
This structure adheres to a market cap-weighted strategy, indicative of the index’s broader representation of the cryptocurrency market.
The fund will be supported by custodians Coinbase Custody Trust Company and BitGo Trust Company and will maintain cash reserves.
Although the initial focus will be on Bitcoin and Ethereum, the ETF may consider including additional digital assets in the future, subject to SEC approval.
The filing comes amid a favorable regulatory climate, following the SEC’s approval of Bitcoin spot ETFs and the planned introduction of Ethereum ETFs to the US market.
Recent remarks by SEC Chairman Gary Gensler before a Senate committee signal the possibility of Ethereum ETF trading by this summer.