Hashdex has submitted its S-1 registration with the SEC, potentially launching the first index-based crypto ETF in the U.S.
Crypto asset management firm Hashdex has taken a significant step towards launching a groundbreaking exchange-traded fund that directly holds spotThe proposed fund, named the Hashdex Nasdaq Crypto Index US ETF, aims to include BTC and ETH initially, with the potential for more assets as regulatory conditions evolve.
This milestone follows weeks of preparation and marks a major advancement in Hashdex’s vision within the crypto investment landscape.“If any crypto asset other than bitcoin and ether becomes eligible for inclusion in the Index, the Sponsor will transition to a sample replication strategy, with only bitcoin and ether in the same proportions determined by the Index.
That being said, Hashdex’s recent filing coincides with the final approval for spot Ethereum ETFs that started trading just two days ago. Additionally, unlike these newly sanctioned ETFs, Hashdex’s proposed combined spot cryptocurrency ETF notably excludes Ether staking from its offerings.In the meantime, ETH ETFs saw substantial inflows, while the Grayscale Ethereum Trust experienced significant outflows of $326.9 million on 24th July. In contrast, BlackRock’s ETH ETF reported no activity.On the Bitcoin side, BTC ETFs recorded inflows of $44.5 million, with Grayscale’s GBTC attracting $26.
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