Hashdex Files for U.S.’s First Index-Based Crypto ETF
Hashdex has advanced its plans to introduce a pioneering exchange-traded fund (ETF) in the U.S. that will directly hold spot Bitcoin and Ethereum, potentially becoming the first index-based crypto ETF in the country.
On Wednesday, Hashdex filed its registration statement, known as an S-1, with the U.S. Securities and Exchange Commission (SEC). The proposed fund, named the Hashdex Nasdaq Crypto Index US ETF, will initially focus on Bitcoin and Ethereum but may expand to include other cryptocurrencies if regulatory conditions allow.
The filing details that the ETF will use a sample replication strategy if additional crypto assets are approved for the Index, maintaining the proportions of Bitcoin and Ethereum as determined by the Index. Any significant changes, such as returning to a full replication strategy, would require SEC approval under Rule 19b-4 of the Exchange Act.
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The announcement follows the recent approval of spot Ethereum ETFs, which began trading earlier this week with significant trading volume. Hashdex opted not to pursue a spot Ethereum ETF at this time, setting its sights on its Bitcoin and ETH-focused fund instead.
The Hashdex Nasdaq Crypto Index US ETF will be listed on Nasdaq and is based on the Nasdaq Crypto Index US methodology. If launched, Coinbase Custody Trust Company, LLC and BitGo Trust Company, Inc. will serve as custodians for the fund.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
