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Hashdex to Launch Hybrid ETF Combining Bitcoin and Ethereum for Enhanced Crypto Investment

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Jun 19, 2024 pm 09:01 PM

Hashdex to Launch Hybrid ETF Combining Bitcoin and Ethereum for Enhanced Crypto Investment

According to U.Today, Hashdex, a Brazilian cryptocurrency asset manager, is poised to introduce a hybrid spot exchange-traded fund (ETF) that tracks the value of Ethereum and Bitcoin.

Brazilian cryptocurrency asset manager Hashdex has filed for a hybrid Bitcoin and Ethereum ETF, offering investors a new avenue for diversified exposure to the top cryptocurrencies and enhancing investment opportunities in the dynamic crypto market.Hashdex to Launch Hybrid ETF Combining Bitcoin and Ethereum for Enhanced Crypto Investment

Brazilian cryptocurrency asset manager Hashdex is set to introduce a hybrid spot exchange-traded fund (ETF) that will track the value of Bitcoin and Ethereum, according to a filing on Monday. This innovative investment opportunity is expected to generate substantial interest among investors seeking exposure to the top cryptocurrencies and could serve as a valuable addition to the ETF landscape.

The ETF will provide investors with a convenient and accessible way to gain exposure to Bitcoin and Ether, two of the most widely recognized and traded cryptocurrencies globally. This move by Hashdex is a testament to the growing demand for cryptocurrency-linked investment products and the recognition of Bitcoin and Ethereum as leading digital assets.

Hashdex intends to utilize at least two custodians for the ETF, namely Coinbase and BitGo. The Hashdex Nasdaq Crypto Index US ETF will be capitalization-weighted, with the weight of each asset in the portfolio being determined by its market capitalization. This structure ensures that the ETF's performance will be closely aligned with the overall performance of the cryptocurrency market. At the time of filing, Bitcoin (BTC) will comprise 70.54% of the portfolio, with Ethereum (ETH) accounting for the remaining 29.46%. The weightings will be adjusted quarterly to account for fluctuations in market value.

The ETF will be tracking the Nasdaq Crypto Index US, which is a total return market capitalization-weighted index that measures the performance of the top 100 cryptocurrencies listed on exchanges in the United States. The index is calculated and maintained by Nasdaq, Inc. (Nasdaq).

The filing also includes the possibility of adding additional digital currencies to the ETF in the future. This potential for the ETF's future growth and diversification is likely to spark hope and excitement in potential investors, hinting at the dynamic and evolving nature of this investment opportunity.

noHashdex crypto index ETF in Brazil includes a diverse range of assets, such as Solana (SOL), XRP, Cardano (ADA), Litecoin (LTC), and Polygon (MATIC), in addition to Bitcoin and Ethereum.

Analyst Highlights Potential U.S. Launch for Hashdex's Hybrid Bitcoin and Ethereum ETF by 2025

According to Bloomberg Intelligence analyst James Seyffart, the introduction of such a product in the United States is not merely a possibility but a logical future objective. This potential for expansion is likely to resonate with those who believe in the broader use of digital assets beyond Bitcoin's current offerings and could pave the way for a wider range of cryptocurrency-linked ETFs in the future.

In late May, Hashdex withdrew its ETF proposal, which was intended to merge futures-based Ether contracts with spot-based Ether. As reported by U.Today, this decision was likely influenced by regulatory considerations and market conditions. It's important to note that the new proposal is distinct from the previous one and has been designed to address any concerns that led to the withdrawal.

According to Seyffart, the new proposal's approval deadline is expected to be March 2025.

News source：https://www.kdj.com/cryptocurrencies-news/articles/hashdex-launch-hybrid-etf-combining-bitcoin-ethereum-enhanced-crypto-investment.html

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