Hashdex Combined Bitcoin and Ethereum ETF Acknowledged By US SEC

Godfrey Benjamin
July 1, 2024 Updated February 19, 2025
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Hashdex Files Second Amendment for Nasdaq Crypto Index US ETF Approval

Highlights

  • The dual BTC and ETH ETF from Hashdex has gained recognition from the SEC
  • The regulator has opened the first round of comment for the product
  • This combined product is the first of many to come

The combined Bitcoin (BTC) and Ethereum (ETH) ETF from the asset management firm Hashdex has finally caught the attention of the United States Securities and Exchange Commission (SEC).

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First Round of Comments on Hashdex ETF Filing

The Commission released a filing a few days ago, acknowledging Hashdex’s interest in listing and trading a combined spot Bitcoin and Ethereum ETF.

Consequently, the SEC noted that it was publishing the notice to solicit comments from the public on the proposed rule change. Noteworthy, the ETF, titled Hashdex Nasdaq Crypto Index US ETF, is designed to provide institutional investors with direct exposure to both Bitcoin and Ethereum. It will achieve this while circumventing the risks associated with these digital currencies.

Hashdex’s filing was highlighted by Nate Geraci, the President of ETF Store. In the company’s filing to the SEC, it was stated that the proposed ETF will be managed and controlled by Hashdex but administered by Tidal ETF Services LLC. Should the securities regulator give its approval to the 19b-4 filing for combined spot Bitcoin and Ethereum, Hashdex will also need approval for an S-1 application.

Additionally, the asset manager intends to enter into an agreement with Coinbase Custody Trust Company and Bitcoin Trust. This entity will serve as custodians for the underlying BTC and ETH. If the public comments are in favor of Hashdex’s combined spot Bitcoin and Ethereum ETF application, the SEC may still delay in making a decision on the filing.

However, the deadline for the Commission’s approval is likely around March 2025.

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U.S. Market Sees Surge in Crypto ETPs

The recent activities in the U.S. financial market and the applications that the SEC has been receiving lately are a testament that spot Bitcoin ETF paved the way for crypto products in the region. Since the beginning of this year when the U.S. SEC approved Bitcoin ETFs, crypto enthusiasts have been talking about other possible Exchange-traded Products (ETPs).

Spot Ethereum ETFs were approved by the Commission on May 23, marking a significant milestone for all digital assets referred to as “securities.” Shortly after, VanEck released its filing for Solana ETFs to track Solana (SOL) price.

Notably, this is the first spot Solana ETF filing in the United States. Before Q2, 2024 ended, 21Shares also joined VanEck by submitting its Solana ETF filing. More crypto ETP filings including XRP ETFs are likely to show up soon.

Read More: What Does the US Marshals Service Gain from Partnering with Coinbase?

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

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.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.