Hashdex Seeks SEC Approval to Expand Crypto Index ETF
- Hashdex filed with the SEC to add Solana, Cardano, and XRP to its Nasdaq Crypto Index US ETF.
- The Nasdaq crypto index is weighted with Bitcoin at 72.5%, Ethereum at 14.8%, Solana at 4.3%, Cardano at 1.2%, and XRP at 6.9%.
- The SEC approved new generic listing standards on Sept. 17, aimed at simplifying approval processes for digital asset ETFs.
- Hashdex was among the first to pursue a dual-asset ETF in June, initially focusing on Bitcoin and Ethereum.
- Bloomberg analyst James Seyffart highlighted that the inclusion of additional assets could inspire other fund managers to seek broader exposure.
The filing by Hashdex reflects an evolving regulatory landscape for cryptocurrency exchange-traded products (ETPs), facilitated by recent SEC standards that aim to expedite approvals for commodity-based trust shares on major exchanges.
If approved, this expansion could significantly diversify the fund’s holdings beyond just Bitcoin and Ethereum, which currently dominate with a combined weight of over 87%. (Source)
