Hashdex Files for Crypto ETF Aimed at Tracking Bitcoin and Ether Performance

In a significant development for cryptocurrency investment in the United States, Hashdex has filed an S-1 registration statement for its proposed Hashdex Nasdaq Crypto Index US ETF. This exchange-traded fund aims to track the performance of Bitcoin (BTC) and Ether (ETH), but there is potential for other cryptocurrencies to be included in the future, provided that regulatory approvals are obtained. The ETF will reference the Nasdaq Crypto US Settlement Price Index, which measures the daily value of various digital assets.

The structure of the ETF shows a clear focus on Bitcoin and Ether for now, comprising 76.3% and 23.7% respectively, based on current market capitalization. However, Hashdex noted that should other cryptocurrencies qualify for inclusion, they can amend the ETF in the future. This would require another filing for approval to adjust the assets held in the fund. The filing signifies a progressive step in the growing acceptance of digital asset investment products.

Moreover, Hashdex has outlined that major custodians like BitGo and Coinbase Custody will hold the ETF’s assets in separate accounts for added security. This is noteworthy given the increasing interest in cryptocurrency from traditional investment firms. Just days before Hashdex’s filing, several asset managers had also launched their spot Ether ETFs, which experienced substantial inflows on the first trading day. With the proposed Hashdex ETF, investors may soon have new options to diversify their holdings in the emerging digital asset market.