The combined Bitcoin (BTC) and Ethereum (ETH) ETF from Hashdex has been recognized by the U.S. Securities and Exchange Commission (SEC). The SEC has now opened the first round of public comments on this proposed rule change.
This dual ETF, known as the Hashdex Nasdaq Crypto Index US ETF, aims to provide institutional investors with direct exposure to both Bitcoin and Ethereum while mitigating associated risks. The ETF will be managed by Hashdex and administered by Tidal ETF Services LLC.
If approved, Hashdex plans to partner with Coinbase Custody Trust Company and Bitcoin Trust to serve as custodians for the underlying assets. The public comments will influence the SEC’s final decision, expected by March 2025.
The U.S. financial market has recently seen a surge in crypto-related Exchange-Traded Products (ETPs), highlighting a growing interest in digital assets. Notably, the approval of spot Bitcoin ETFs earlier this year has paved the way for similar products, indicating a trend towards broader acceptance of cryptocurrencies.
The strategic importance of the Hashdex ETF lies in its potential to further institutionalize cryptocurrency investments, potentially setting a precedent for future combined crypto ETFs.
