Key information:
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Sooner or later, this mixed ETF might incorporate different cryptocurrencies.
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If authorized by the SEC, this ETF could be listed on the Nasdaq market.
Following the launch of Ethereum exchange-traded funds (ETFs) within the US market, an utility has been submitted to launch one other such instrument.
That is Hashdex Nasdaq Crypto Index US, a spot ETF not just for ether (ETH), but additionally for bitcoin (BTC). Moreover, beneath the proposal, it might add publicity to extra property relying on how the regulatory panorama develops.
The appliance to launch this ETF, proposed by asset administration agency Hashdex, was filed yesterday by way of an S-1 kind with the Securities and Change Fee (SEC). It got here simply at some point after ether-based devices of this sort started buying and selling.
At the start of 2024, the SEC licensed the launch of bitcoin ETFs and two months in the past these of ether, though the latter didn’t come to market till this week, as CriptoNoticias reported. Subsequently, It’s to be hoped that the fund proposed by Hashdex will get the inexperienced mild of the physique to enter the market.
If authorized by the SEC, the fund will start buying and selling on the Nasdaq change with Coinbase as custodian. This firm is the one which manages the custody of a lot of the bitcoin and ether ETFs on the US market.
Hashdex is forward of attainable ETF approval for different crypto property
The current approval of Ethereum ETFs might result in the authorization of devices of this type based mostly on different altcoinsOn this regard, the fund requested by Hashdex might add different property from the market “if and when the SEC approves it,” stated analyst James Seyffart.
There are at present proposals submitted to the company to launch spot ETFs for the solana (SOL) cryptocurrency, for which it has till March 2025 to offer a verdict.
On this method, Hashdex appears to be anticipating the opportunity of ETFs of assorted cryptoassets being authorized, one thing that might convey new demand to the market and lift its costs.