Hashdex has submitted its S-1 filing with the US SEC, a step in growing its application for a combined spot Bitcoin and Ethereum ETF.
The asset management firm Hashdex has submitted the S-1 filing for its combined spot Bitcoin and Ethereum ETF products. This is a significant accomplishment for the firm, as it occurs weeks after initially submitting its official filing for the fund.
Success May Be Influenced by Proficiency in Hashdex ETFs
According to the filing, the asset manager stated that the combined spot Bitcoin and Eth ETF will maintain both assets on an amended basis to emphasize a balanced portfolio.
The Hashdex Nasdaq Crypto Index US ETF will commence operations with Bitcoin and Ethereum. It may identify additional assets in the future with the consent of the United States Securities and Exchange Commission (SEC).
It is essential to mention that the asset manager submitted the 19b-4 application for the combined spot Bitcoin and Ethereum ETF mere weeks after withdrawing its spot Ethereum ETF filing. As the filing indicates, Hashdex will manage and control the proposed ETF. Nevertheless, the fund administration will be overseen by Tidal ETF Services LLC.
The securities regulator acknowledged the Hashdex Nasdaq Crypto Index US ETF filing within two weeks. The SEC admitted publishing the notice to invite public feedback on the proposed rule change. The S-1 filing from Hashdex is anticipated, as with all other crypto ETF applications submitted to the United States in recent months.
This implies that the asset manager is progressing in negotiating with the Commission.
Ethereum ETF and Additional Crypto ETFs
This S-1 filing was submitted less than 48 hours after the ETH ETF began trading. It is commendable that the spot Ethereum ETF products experienced substantial inflows on their initial trading day. In particular, the spot Eth ETFs experienced a significant trading volume of over $1 billion and net inflows of $107 million.
This year has been favorable for crypto ETFs, with Hashdex being one of the primary beneficiaries. It is one of the firms that received approval to list the Bitcoin ETF space in January, an experience it aspires to apply to its most recent product.
In the future, the crypto industry anticipates that additional crypto ETFs, such as XRP and Solana, will receive regulatory sanction.
