🎉Big news, BTC enthusiasts! Hashdex, a crypto asset management firm, is seeking approval to launch an ETF backed by both Bitcoin and Ethereum, the two crypto giants. 🚀

According to a form 19b-4 discovered on the Nasdaq stock exchange, Hashdex has requested permission from the SEC to list shares of the Hashdex Nasdaq Crypto Index US ETF. The assets of this trust will consist of Bitcoin and Ethereum, with a market cap weighted exposure. As of May 27 prices, this implies a 70.54% allocation to BTC and a 29.46% to ETH. 💼

But wait, there's more! The ETF won't seek performance that is the multiple or inverse multiple of the Trust’s index. It also won't stake any of the Ethereum held with the fund to try to earn yield. 📊

This move follows the listing of Bitcoin spot ETFs in January and the SEC’s recent confirmation that Ethereum spot ETFs will go live this summer. Unlike other crypto ETFs, this fund intends to use multiple custodians for its assets, including Coinbase and BitGo. 🏦

While Hashdex’s filing stated it would “not invest in any other spot crypto asset besides bitcoin and ether,” there's a hint that other cryptos could be included if approved as commodities by regulators. The SEC has until March 2025 to approve or deny the product. 🕰️

Bloomberg ETF analyst James Seyffart said, “Shouldn’t be a surprise to anyone — makes a lot of sense. Bringing something like this to the US makes complete sense as a future goal.” 🎯

So, let's keep our eyes on the crypto horizon, folks! 🌅