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Hashdex aims for the first dual Bitcoin-Ethereum ETF in the United States
Hashdex has filed a proposal with the Securities and Exchange Commission (SEC) to create an exchange-traded fund (ETF) that would contain both Bitcoin and Ethereum.
The proposed ETF, called the Hashdex Nasdaq Crypto Index US ETF, is designed to offer investors a stake in the two leading cryptocurrencies, mirroring their distribution in the Nasdaq Crypto Index.
This initiative marks a significant step towards integrating digital assets into conventional financial instruments, potentially expanding the accessibility of cryptocurrencies to a wider range of investors.
The ETF’s composition reflects the Nasdaq Crypto Index, with Bitcoin and Ethereum accounting for approximately 70.54% and 29.46% of the fund, respectively.
This structure adheres to a market cap-weighted strategy, indicative of the index’s broader cryptocurrency market representation.
The fund will be supported by custodians Coinbase Custody Trust Company and BitGo Trust Company and will maintain liquidity reserves.
While the initial focus is on Bitcoin and Ethereum, the ETF may consider including additional digital assets in the future, subject to SEC approval.
The filing comes amid a favorable regulatory climate, following the SEC’s approval of spot Bitcoin ETFs and the planned introduction of Ethereum ETFs to the US market.
SEC Chairman Gary Gensler’s recent remarks to a Senate committee signal the possibility of Ethereum ETFs trading this summer.