🔔 Hashdex is making moves! The crypto asset management firm is seeking to launch an ETF backed by both Bitcoin and Ethereum. 🚀

📝 They've filed a form 19b-4 with the Nasdaq, requesting permission from the SEC to list shares of the Hashdex Nasdaq Crypto Index US ETF.

💼 The ETF's assets will be a mix of Bitcoin and Ethereum, with a market cap weighted exposure. As of May 27 prices, this would mean a 70.54% allocation to BTC, and a 29.46% to ETH.

🚫 The fund won't seek performance that is the multiple or inverse multiple of the Trust’s index, nor will it stake any Ethereum to earn yield.

🔐 Unlike other crypto ETFs, Hashdex plans to use multiple custodians for its assets, including Coinbase and BitGo.

🤔 Could Hashdex include more cryptos in the future? While the filing says it won't invest in any other spot crypto asset besides Bitcoin and Ethereum, there's some wiggle room if other cryptos get approved as commodities.

🗓️ The SEC has until March 2025 to approve or deny the product.

What do you think? Will this open the floodgates for more crypto ETFs? Let's chat below! 👇 #CryptoNews #ETFs #Bitcoin #Ethereum