Asset Manager Hashdex Submits Filing for Bitcoin-Ethereum ETF
Brazilian asset management firm Hashdex has recently filed with the Securities and Exchange Commission (SEC) for a combined exchange-traded fund (ETF) that includes both Ethereum and Bitcoin.
If approved, the ETF will be listed on the Nasdaq, allowing a wide range of investors, from institutional players to retail participants, to access it.
The filing indicates that the ETF will provide investors with 70.54% exposure to Bitcoin and 29.46% to Ethereum.
James Seyffart, Senior ETF Analyst at Bloomberg Intelligence, estimates that the SEC approval deadline will be in March 2025.
Laurent Kssis, an independent board member of Issuance Swiss AG, commented on the regulatory landscape, stating, “The race to being innovative continues where the regulator is in the process of accepting new tokens, and ETH being the next on the list.”
While Hashdex’s proposal is unique in the US market, similar products have already gained popularity in Europe. Asset management firm 21Shares has been at the forefront of offering crypto exchange-traded products (ETPs). These offerings include ETPs that track individual cryptocurrencies like Bitcoin and Ethereum, as well as diversified products that bundle multiple cryptocurrencies.
In Germany, Xetra, a prominent electronic trading platform, lists a variety of crypto ETPs, including those from 21Shares and other providers like ETC Group. These products have been well-received, reflecting strong investor demand for regulated and transparent ways to invest in digital assets.
The Nordic Growth Market in Sweden and the SIX Swiss Exchange have also embraced crypto ETPs, offering a range of products. European markets serve as a useful case study for successfully integrating such products into the financial ecosystem.
Hashdex’s ETF filing is particularly significant considering the SEC’s historically cautious approach to crypto ETFs.