Brazilian asset management company Hashdex submitted documents to the U.S. Securities and Exchange Commission (SEC) requesting review of a spot exchange-traded fund (ETF) combining Bitcoin (BTC) and Ethereum (ETH).
According to Cointelegraph on the 19th (local time), the 'Hashdex Nasdaq Crypto Index US ETF' proposed by Hashdex to the SEC the previous day was created to track the market movements of the Nasdaq Crypto US settlement price index.
The ETF consists of 70.54% BTC and 29.46% ETH. Nasdaq was selected as the exchange, and Coinbase and Bitgo were selected as trustees.
According to document 19b-4 submitted this time, HashDex specified that it would not invest in physical virtual assets other than BTC and ETH. However, it was suggested that there is a possibility of investing in other virtual assets after the SEC's approval.
The SEC's final review decision deadline is expected to be within March 2025 at the latest. If SEC approval is received, the ETF will become the first spot ETF to hold both BTC and ETH.
Meanwhile, Hashdex launched the BTC spot ETF early this year and then challenged the Ethereum spot ETF and received 19b-4 approval from the SEC last month. However, the launch of the ETH spot ETF was withdrawn with only the final S-1 approval remaining.
- Reporter Lee Yeon-ju
- juya@rni.kr
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