Bitcoin
Hashdex Aims for First Bitcoin-Ethereum Dual ETF in US
Hashdex has submitted a proposal to the Securities and Exchange Commission (SEC) to create an exchange-traded fund (ETF) that would hold Bitcoin and Ethereum.
The proposed ETF, called the Hashdex Nasdaq Crypto Index US ETF, is designed to offer investors a stake in the two most prominent cryptocurrencies, reflecting their distribution in the Nasdaq Crypto Index.
This initiative marks a significant step in the integration of digital assets into conventional financial instruments, potentially expanding the accessibility of cryptocurrencies to a wider range of investors.
The ETF’s composition mirrors the Nasdaq Crypto Index, with Bitcoin and Ethereum accounting for approximately 70.54% and 29.46% of the fund, respectively.
This structure follows a market capitalization-weighted strategy, indicative of the index’s broader representation in the cryptocurrency market.
The fund will be supported by custodians Coinbase Custody Trust Company and BitGo Trust Company and will maintain cash reserves.
While the initial focus is Bitcoin and Ethereum, the ETF may consider including additional digital assets in the future, pending SEC approval.
The order comes amid a favorable regulatory climate following the SEC’s approval of Bitcoin spot ETFs and the anticipated introduction of Ethereum ETFs into the US market.
SEC Chairman Gary Gensler’s recent comments to a Senate committee signal the possibility of Ethereum ETF trading this summer.