Hashdex to Launch First US Dual Bitcoin and Ethereum ETF Pending SEC Approval
The United States is witnessing a breakthrough in the cryptocurrency market, where spot Bitcoin ETFs are already in operation and Ethereum ETFs are about to be launched.
Crypto asset manager Hashdex is pushing the envelope with its application for the Hashdex Nasdaq Crypto Index US ETF, which will include Bitcoin and Ethereum.
If approved, this would be the first U.S. ETF to directly hold the two largest cryptocurrencies by market cap.
Milestone: Hashdex Applies for First Joint Bitcoin and Ethereum ETF
Hashdex's latest application marks an important milestone in the cryptocurrency space. The proposed Hashdex Nasdaq Crypto Index US ETF is designed to hold both Bitcoin and Ethereum and could potentially revolutionize investment strategies by offering diversified exposure within a single fund.
Detailed Review of the Proposed ETF
The ETF will track the Nasdaq Crypto Index (NCI), an index weighted by market cap, and will largely include Bitcoin (70.54%) and Ethereum (29.46%), reflecting their dominance in the market. The fund will also hold cash and, if approved, appoint Coinbase Custody and BitGo as custodians to secure asset management.
