Hashdex applies to launch dual-currency innovative ETF for Bitcoin and Ethereum

Crypto asset manager Hashdex is filing to launch a new ETF designed to provide investors with exposure to Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization. The ETF will hold both A market capitalization weighted portfolio of assets.

The ETF plans to hold a market-cap-weighted blend of Bitcoin (BTC) and Ethereum (ETH), serving investors seeking exposure to both assets.

Hashdex Crypto Index US ETF

Analysts spotted the offering on Tuesday in a Form 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) on Nasdaq for its Hashdex Nasdaq Crypto Index U.S. ETF. Shares can be admitted to the market. .

The filing states: “The trust’s assets will be comprised of Bitcoin and Ethereum. Subject to limitations, the Trust will hold cash to cover its expenses.”

It is reported that the ETF’s investments in Bitcoin and Ethereum will be weighted according to market capitalization. At cryptocurrency prices on May 27, this means the ETF allocated 70.54% of its funds to BTC and 29.46% to ETH.

The document also clearly states: “Investments in the Trust will not be used to seek multiples or inverse multiples of the performance of the Trust’s index.” In addition, the ETF will not pledge Ethereum holdings to obtain income.

Will HashDex consider more other cryptocurrencies?

The approval of Bitcoin and Ethereum ETFs has investors considering that other cryptocurrencies, including meme coins like Dogecoin and BONK, may also be approved.

Although Hashdex’s filing states that it “will not invest in any other spot crypto assets outside of Bitcoin and Ethereum,” certain statements in the filing leave room for other cryptocurrencies to potentially be considered in the future, provided that It is these assets that are approved by regulators as commodities rather than securities.

According to the SEC’s review process and timeline, the agency’s final deadline for approval or rejection of this innovative ETF product proposed by Hashdex is March 2025.

Bloomberg ETF analyst James Seyffart said of the application: "This should not be a surprise to anyone, because it is completely reasonable. At the same time, bringing a product like this to the U.S. market is a A perfectly reasonable long-term goal.”

Conclusion

Dual Bitcoin and Ethereum spot ETF applications filed by Hashdex herald a new era in cryptocurrency investing. The ETF is designed to provide investors with exposure to two major cryptocurrencies while maintaining transparency and compliance. While currently limited to BTC and ETH, the filing opens up the possibility of including other cryptocurrencies in the future.

The results of the SEC's review will have a profound impact on the future of cryptocurrency financial products, and the market's acceptance of this product and positive reviews from analysts indicate that cryptocurrency is gradually becoming a mainstream investment option. With the gradual improvement of the regulatory framework and the improvement of market awareness, we look forward to a more open and diversified financial investment environment.

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