Hashdex Files for Combined Bitcoin and Ether ETF with SEC
Hashdex has submitted a proposal on June 18 to the United States Securities and Exchange Commission (SEC) for the creation of a new exchange-traded fund (ETF) on the Nasdaq exchange that would encompass both Bitcoin and Ether. This innovative fund would allocate its assets based on market capitalization, with proportions reported as 70.54% Bitcoin and 29.46% Ether as of May 27. The ETF would adopt a passive investment approach, tracking the Nasdaq Crypto US Settlement Price Index to reflect daily market movements rather than trying to outperform it.
James Seyffart, an analyst, endorsed the concept, stating that a combined-asset ETF is logically sound. This fund would limit its investments solely to Bitcoin and Ether, excluding other spot assets. The proposal holds a provision for the potential inclusion of other crypto assets under certain conditions. Should any new crypto assets qualify for inclusion, the fund’s strategy would adjust to comprise Bitcoin and Ether only, in the aforementioned proportions dictated by the tracking index.
For crypto assets to be considered, they would need to adhere to specific criteria. They must be currently listed on a digital asset trading platform regulated in the U.S. or underlie a derivative instrument listed on a U.S.-regulated derivatives platform. This ensures a level of safety and regulatory compliance, enhancing investor confidence in the fund’s structure.
Coinbase and BitGo are named as custodians for Bitcoin and Ether within the proposed ETF. They are tasked with providing segregated accounts for individual shareholders, ensuring the assets’ security.
Hashdex, based in Brazil, is no stranger to pioneering ETF innovations. It previously filed an application with the SEC to create an Ethereum ETF, only to later retract it. Its indexed crypto ETF available in Brazil comprises nine coins, with Bitcoin and Ether making up about 92% of its value. In the U.S., Hashdex offers a spot Bitcoin ETF containing up to 5% in Bitcoin futures contracts, with direct acquisition of the spot asset on the CME.
Moving forward, Hashdex must submit and secure approval on the S-1 form from the SEC. This regulatory body has a 90-day window to respond to the 19-b4 filing, while also welcoming input and comments from the public and other financial institutions regarding the proposal.
Analyst James Seyffart anticipates a decisive ruling from the SEC on this proposed fund by March 2025. The anticipation mounts as Hashdex continues to refine and navigate the regulatory landscape for its innovative financial products, potentially setting a precedent for future combined-asset ETFs in the crypto space.
32 thoughts on “Hashdex Files for Combined Bitcoin and Ether ETF with SEC”
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Keeping assets secure with Coinbase and BitGo as custodians? Hashdex thought of everything. This ETF is going to soar! 🚀🔒
I don’t see how this is any safer than directly investing in BTC and ETH. Just another layer of fees for no real benefit. 😒 ” 💸
Limiting to BTC and ETH excludes so many promising assets. Why the narrow vision?
The requirements for crypto assets to be considered are too restrictive. Lots of missed opportunities here. 😔 ” 🚪
This ETF could be a total game-changer for the crypto market. Thank you, Hashdex, for pushing the envelope.
This ETF proposal could be a game-changer for crypto investors! Combining Bitcoin and Ether in one package just makes sense. Let’s hope the SEC gives it the green light!
Calling it innovative is a stretch. It’s just another passive fund tracking an index…boooring!
March 2025!? Thats ages away. Too much anticipation for something that’s not even unique.
Hashdex is really pushing the limits with this one! A combined BTC and ETH ETF sounds perfect for anyone looking to diversify their crypto holdings.
The idea of market cap allocation for BTC and ETH is genius! Can’t wait for the SEC’s decision on this.
Combining BTC and ETH in an ETF sounds like a dream come true for crypto investors. Let’s hope the SEC sees the value in this! 🚀
So stoked for Hashdex’s ETF proposal! Combining BTC and ETH is a logical step and I really hope the SEC sees its potential. 🚀🌟
Finally, a ETF that caters to the top two cryptos by market cap! This would be my go-to investment for sure. Props to Hashdex for the smart move! 🔥👏
The regulatory hoops seem endless. Who has the patience for this? Too much red tape for minimal gain.
Why trust Hashdex after they retracted their Ethereum ETF application? Seems like a shaky move. 🤨 ” ❌
With Coinbase and BitGo as custodians, is it really that innovative? Feels like more of the same. 😐 ” 🛑
The idea of a combined-asset ETF just makes sense! Really excited to see Hashdex pushing for this.
Another ETF means more manipulation opportunities. No thanks, keeping my distance. 👋 ” 📉
Combining Bitcoin and Ether in an ETF is a stellar idea! Can’t wait to see where this goes. 🚀💰
70% Bitcoin really shows the lack of faith in Ethereum’s potential. Poorly diversified. 🤷♀️ ” 🪙
Another BTC and ETH ETF proposal? Really? Aren’t we already crowded with these? It just feels redundant.
Great job, Hashdex! This combined-asset ETF could be the perfect gateway for new crypto investors.
If the SEC approves this, it’s going to open up the floodgates for new investors. Amazing work, Hashdex!
A revolutionary ETF proposal from Hashdex! This balanced approach to BTC and ETH investment is just what we need.
Seeing Hashdex push boundaries with ETF proposals is inspiring. A combined Bitcoin and Ether ETF would be game-changing! 🌟🚀
Oh great, another fund trying to capitalize on crypto hype without adding real value.
Investing in both Bitcoin and Ether through one ETF sounds like a dream. Kudos to Hashdex for this innovative approach!
Thrilled to see progress in the ETF world for crypto. Hashdex is making bold moves with this proposal!
Props to Hashdex for this innovative proposal! A combined-asset ETF with BTC and ETH is exactly what many investors have been waiting for.
So excited about Hashdex’s combined-asset ETF! This could set a new standard for crypto investments.
Combining the two top cryptos into one ETF not only simplifies things but also provides a balanced exposure. Go Hashdex!
This is fantastic news! Hashdex’s ETF could make it so much easier for mainstream investors to enter the crypto market. 🎉📊