Originally published on: November 25, 2024
Asset manager Hashdex is making waves in the cryptocurrency market by submitting its second amended application for a proposed exchange-traded fund (ETF). This ETF aims to offer investors a comprehensive cryptocurrency portfolio, as stated in a recent regulatory filing on November 25.
The updated filing represents a significant step forward for the crypto index ETF in its journey with the Securities and Exchange Commission (SEC), the primary financial regulatory body in the United States.
Previously, Hashdex filed its first amended S-1 in October after the SEC requested additional time to evaluate the authorization of the ETF for trading.
The Hashdex Nasdaq Crypto Index US ETF will kick off with Bitcoin (BTC) and Ether (ETH) as its initial assets, mirroring the current holdings of the Nasdaq Crypto US Index. However, there are plans to potentially incorporate more digital currencies in the future, as revealed in the filing.
Industry experts are suggesting that crypto index ETFs are the latest trend in the market, following the listing of ETFs holding BTC and ETH earlier this year. Index ETFs offer an efficient investment option for individuals, similar to how many investors opt for the S&P 500 ETF, Katalin Tischhauser, head of investment research at Sygnum, explained in an interview with Cointelegraph.
With recent developments, such as the softening of the SEC’s approach to crypto regulation and Gary Gensler’s impending departure from the agency in 2025, the landscape is evolving for cryptocurrencies and related financial products.
In addition to Hashdex, other key players like Franklin Templeton and Grayscale are also looking to launch their own crypto index ETFs. Franklin’s offering will track the CF Institutional Digital Asset Index, while the Grayscale Digital Large Cap Fund includes BTC, ETH, Solana (SOL), and XRP, among others.
The growing interest in crypto index ETFs demonstrates a shifting focus in the market towards diversified investment opportunities in the digital asset space.
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