- Hashdex plans to launch an exchange-traded fund that would own both spot bitcoin and Ethereum ETFs.
- The proposed Hashdex Nasdaq Crypto Index US ETF will hold spot bitcoin, ether, and cash, with Coinbase Custody Trust Company LLC and BitGo Trust Company Inc as the custodians.
- The ETF filing comes after the SEC approved spot Bitcoin ETFs earlier this year and spot Ethereum ETFs last month, though the Ethereum products still need final registration approval.
Crypto asset management firm Hashdex plans to launch an exchange-traded fund that directly owns spot bitcoin and ether, according to a new SEC filing. This proposed ETF would hold both assets, marking an evolution in the crypto ETF space.
Hashdex’s Filing
Hashdex filed the proposal on Tuesday via Form 19b-4 for the Hashdex Nasdaq Crypto Index US ETF. The proposed fund would own both spot bitcoin and ether.
ETF experts say this dual-asset approach makes sense given the SEC’s recent spot bitcoin ETF approvals and consideration of spot Ethereum filings. “A dual Ethereum and Bitcoin ETF filing from Hashdex just dropped,” said Bloomberg ETF analyst James Seyffart. “Shouldn’t be a surprise to anyone — makes a lot of sense.”
The Fund’s Holdings
The Hashdex ETF will hold bitcoin, ether, and cash, according to its filing. Coinbase Custody Trust Company and BitGo Trust Company will serve as custodians if it launches.
Hashdex said it would not invest in any other spot crypto assets besides bitcoin and ether. The trust will not invest in “crypto securities, tokenized assets, or stablecoins,” the filing states.
Conclusion
Hashdex’s proposed spot bitcoin and ether ETF represents an evolution in the crypto ETF space now that spot bitcoin products have been approved. The SEC has yet to approve Hashdex’s filing, but the proposal itself shows how asset managers are expanding their ETF ambitions. Whether approved or not, this filing provides insight into how more diversified crypto ETF products could take shape.
