Breaking: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF

Breaking: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF

PENGY July 25, 2024, 3:03 am Facebook Twitter


Breaking: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF

Asset management firm Hashdex has submitted the S-1 filing for its combined spot Bitcoin and Ethereum ETF products. This is a major milestone for the firm’s pursuit as it comes weeks after it first submitted its official filing for the fund.

Hashdex ETF Proficiency Might Trigger Success

According to the filing, the asset manager said the combined spot Bitcoin and Ethereum ETF will hold both assets on an adjusted basis to underscore a balanced portfolio.

For now, the Hashdex Nasdaq Crypto Index US ETF will start with just Bitcoin and Ethereum. If it decides to list other assets in the future, it may do so with the approval of the United States Securities and Exchange Commission (SEC).

It is worth noting that the asset manager filed the 19b-4 application for the combined spot Bitcoin and Ethereum ETF only a few weeks after it withdrew its spot Ethereum ETF filing. In the filing, Hashdex stated that the firm will manage and control the proposed ETF. However, Tidal ETF Services LLC. will manage its administration.

Barely two weeks after, the securities regulator acknowledged the Hashdex Nasdaq Crypto Index US ETF filing. The SEC noted that it was publishing the notice to solicit comments from the public on the proposed rule change. As with all other crypto ETF application that the United States has seen recently, the S-1 filing from Hashdex is expected.

This suggest that the asset manager is making progress with the Commission.

Ethereum ETFs and More Crypto ETFs

This S-1 filing comes less than 48 hours after spot Ethereum ETF started trading. The spot Ethereum ETF products registered significant inflows on its first trading day which is quite commendable. Specifically, the spot Ethereum ETFs saw notable trading volume of over $1 billion and net inflows of $107 million.

This year has remained favorable to crypto ETFs in general with Hashdex coming off as one of the major beneficiaries. It is one of the firms that got approval to list spot Bitcoin ETF in January, an experience it hopes to apply to this latest product.

Moving forward, the crypto industry expects more crypto ETFs including Solana and XRP to bag approval.

Read More: Ripple CEO Brad Garlinghouse Defends Kamala Harris Amid Crypto Backlash

The post Breaking: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF appeared first on CoinGape.

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