Hashdex Applies for Spot Bitcoin and Ethereum ETF.

Three weeks after withdrawing its spot Ethereum ETF application, Hashdex is now back in the spotlight with an unexpected 19b-4 filing for spot Bitcoin and Ethereum ETFs. This two-way ETF offers to combine two major cryptocurrencies into a single investment vehicle.

The application was highlighted by #ETF Store President Nate Geraci, who shared a screenshot of the document filed with the United States Securities and Exchange Commission (SEC) on June 17. The filing proposes that the Hashdex Nasdaq Crypto Index US ETF may be listed and traded pursuant to Nasdaq Rules 5711(d). According to the statement, the ETF will be managed by Hashdex, but not by Tidal ETF Services LLC, and custody of the assets will be done by Coinbase Custody Trust Company and Bitcoin Trust.

The Spot Bitcoin and #Ethereum ETF is different from previous ETF products approved by the SEC and aims to provide investors with access to these two cryptocurrencies through a single fund. This can simplify investment strategies for both institutional and individual investors and offer access to the performance of these digital assets without the need to directly own them. The SEC's decision on this application is expected to be announced in March 2025.

This development comes after Hashdex withdrew its spot Ethereum ETF application; This decision comes just weeks after the SEC approved similar filings from other major issuers such as VanEck, Fidelity and Grayscale. Grayscale also recently withdrew its application for an Ethereum Futures ETF, leading to speculation about its strategic intentions. Bloomberg ETF Research Analyst James Seyffart suggested that Grayscale could aim to repeat the success of the GBTC #Bitcoin ETF.
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