Crypto asset management company Hashdex is applying to launch a new type of ETF that aims to provide investors with exposure to the two largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ethereum (ETH). The ETF will hold a market capitalization-weighted combination of the two assets.
The ETF plans to hold a mix of Bitcoin (BTC) and Ethereum (ETH) weighted by market capitalization, serving investors seeking exposure to both assets.
Hashdex Crypto Index US ETF
Analysts spotted the product in a Form 19b-4 filed by the Nasdaq Stock Exchange on Tuesday, as the company seeks approval to list its shares in the Hashdex Nasdaq Crypto Index US ETF with the U.S. Securities and Exchange Commission (SEC).
“The Trust’s assets will consist of Bitcoin and Ethereum. Subject to limitations, the Trust will hold cash to pay its expenses,” the document states.
It is reported that the ETF's investment in Bitcoin and Ethereum will be weighted according to market capitalization. Based on the cryptocurrency price on May 27, this means that the ETF will allocate 70.54% of its funds to BTC and 29.46% to ETH.
The document also clearly states: "The Trust's investments will not seek multiple or inverse multiple performance of the Trust Index." In addition, the ETF will not pledge the Ethereum it holds to earn returns. $BTC
Will HashDex consider other cryptocurrencies?
The approval of Bitcoin and Ethereum ETFs has investors considering that other cryptocurrencies, including meme coins like Dogecoin and BONK, may also be approved.
Although Hashdex's filing states that it "will not invest in any other spot crypto assets outside of Bitcoin and Ethereum," certain language in the filing leaves room for other cryptocurrencies to be considered in the future, provided that those assets are approved by regulators as commodities rather than securities.
According to the SEC’s review process and timeline, the agency’s final deadline for approving or rejecting Hashdex’s innovative ETF product is March 2025.
“This shouldn’t come as a surprise to anybody because it’s completely reasonable,” Bloomberg ETF analyst James Seyffart said of the filing. “It’s a completely reasonable long-term goal to bring a product like this to the U.S. market.”
Conclusion
Hashdex's dual Bitcoin and Ethereum spot ETF application heralds a new era in cryptocurrency investment. The ETF aims to provide investors with exposure to two major cryptocurrencies while maintaining transparency and compliance. Although currently limited to BTC and ETH, the application document opens the possibility of including other cryptocurrencies in the future.
The SEC's review results will have a profound impact on the future of cryptocurrency financial products, and the market's acceptance of this product and the positive comments from analysts indicate that cryptocurrency is gradually becoming a mainstream investment option. With the gradual improvement of the regulatory framework and the improvement of market awareness, we look forward to a more open and diversified financial investment environment. #Hashdex #比特币 #以太坊 #加权组合ETF
