Hashdex Combined Bitcoin and Ethereum ETF Acknowledged By US SEC 📣
First Round of Comments on Hashdex ETF Filing
The Commission released a filing a few days ago, acknowledging Hashdex’s interest in listing and trading a combined spot Bitcoin and Ethereum ETF. 💫
Consequently, the SEC noted that it was publishing the notice to solicit comments from the public on the proposed rule change. Noteworthy, the ETF, titled Hashdex Nasdaq Crypto Index US ETF, is designed to provide institutional investors with direct exposure to both Bitcoin and Ethereum. It will achieve this while circumventing the risks associated with these digital currencies.
Hashdex’s filing was highlighted by Nate Geraci, the President of ETF Store. In the company’s filing to the SEC, it was stated that the proposed ETF will be managed and controlled by Hashdex but administered by Tidal ETF Services LLC. Should the securities regulator give its approval to the 19b-4 filing for combined spot Bitcoin and Ethereum, Hashdex will also need approval for an S-1 application.
Additionally, the asset manager intends to enter into an agreement with Coinbase Custody Trust Company and Bitcoin Trust. This entity will serve as custodians for the underlying BTC and ETH. If the public comments are in favor of Hashdex’s combined spot Bitcoin and Ethereum ETF application, the SEC may still delay in making a decision on the filing.
However, the deadline for the Commission’s approval is likely around March 2025.
#ETF_ETH #ETFvsBTC #ETFApprouval