Ethereum
Hybrid Bitcoin and Ethereum ETF offered by Hashdex
Alex Dovbnya
Hashdex wants to launch an ETF offering combined exposure to Bitcoin and Ethereum
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Brazilian cryptocurrency asset manager Hashdex intends to launch a hybrid cash exchange traded fund (ETF) which tracks the value of Bitcoin and Ethereum.
“The Actions are designed to provide a simple way to obtain
investment exposure to bitcoin and ether through the public securities market, as opposed to directly acquiring, holding, and trading crypto assets for cash on a peer-to-peer or other basis or through a crypto assets platform,” the filing said.
Hashdex plans to use at least two custodians for the ETF simultaneously (BitGo and Coinbase).
The Hashdex Nasdaq Crypto Index US ETF will be cap-weighted, with Bitcoin (BTC) making up 70.54% of the portfolio. Weights will be adjusted on a quarterly basis to reflect changes in market value.
Hashdex also did not rule out other digital currencies being added to the mix. However, such changes would first need to be approved by the SEC.
The Brazil-based asset manager’s crypto-index ETF includes assets such as Solana (SOL), XRP, Cardano (ADA), Litecoin (LTC) and Polygon (MATIC) in addition to Bitcoin and Ethereum.
As Bloomberg Intelligence analyst James Seyffart noted, introducing such a product in the United States would “make perfect sense as a future goal.” He of opinion that “people who believe digital assets have a broader use than what Bitcoin currently offers,” adding that such a product would make “a lot of sense” for advisors who want diversified exposure to the crypto space. currencies.
As reported by U.TodayHashdex withdrew its ETF proposal at the end of May which was supposed to combine Ether futures contracts and spot Ether.
The deadline for approval of his new proposal is expected to be around March 2025, according to Seyffart.
About the Author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes and other fintech media. He is particularly interested in regulatory trends across the world that are shaping the future of digital assets. He can be contacted at alex.dovbnya@u.today.