Breaking: Hashdex Files S-1 For Combined Spot Bitcoin and Ethereum ETF
Highlights
- Hashdex has submitted its S-1 filing for combined BTC and ETH ETF
- The filing comes barely 48 hours after spot Ethereum ETF opened for trading
- The S-1 filing is indication Hashdex has hopes for the new product approval
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.
Hashdex files S-1 for combined spot btc & eth ETF… https://t.co/XurKX448Ab pic.twitter.com/je3PRiszPJ
— Nate Geraci (@NateGeraci) July 24, 2024
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
- Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder
- BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF
- Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?
- Breaking: U.S. Government Shuts Down After Congress Fails to Pass Funding Bill
- Breaking: BNB Chain Account Hacked With Founder CZ Shown Promoting Meme Coin
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
- Analyst Predicts Dogecoin Price Surge as DOGE ETF AUM Hits $20M
- Ethereum Price Eyes $8,600 As Institutions And Whales Double Down
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
