Hashdex Nasdaq Crypto Index ETF: Latest S-1 Amendment News
Hashdex Nasdaq Crypto Index ETF Gains Momentum with S-1 Amendment
Asset manager Hashdex is moving closer to launching a crypto-focused ETF in the U.S. The firm announced on Nov. 25 that it has filed a second amended S-1 application with the SEC. The proposed ETF will center on diversifying crypto investments, with Bitcoin and Ether as its main assets.
“Hashdex Pushes Ahead: Crypto ETF Inches Closer to Approval"
Hashdex has taken another step toward launching its Nasdaq Crypto Index US ETF, designed to offer investors a diversified mix of cryptocurrencies. Here’s what to know:
Initial Assets: The fund will start with Bitcoin (BTC) and Ether (ETH), the only cryptocurrencies in the Nasdaq Crypto US Index right now.
Future Expansion: Other digital currencies might be added to the portfolio over time.
Regulatory Journey: Hashdex updated its filing after the SEC delayed its decision in October, requesting more time to review the proposal.
Compliance Efforts: The amendment shows Hashdex’s commitment to meeting the SEC’s strict requirements.
This comes as the SEC remains cautious about approving crypto ETFs. Despite this, companies like WisdomTree are pushing forward with new applications, such as a proposed ETF for XRP.
Crypto Index ETFs: The New Frontier for Diversified Investing
Crypto index ETFs are gaining traction as investors seek broader exposure to the crypto market. Much like S&P 500 index funds in traditional finance, these ETFs offer a diversified, simplified way to invest in multiple cryptocurrencies at once, making them a hot topic for asset managers.
"Crypto index ETFs are shaping up to be the next big thing for investors, much like the S&P 500 ETFs in traditional markets," says Katalin Tischhauser, head of investment research at Sygnum.
Several asset managers are racing to launch these products. Hashdex is one of them, alongside Franklin Templeton and Grayscale. Franklin Templeton’s proposed Crypto Index ETF would follow the CF Institutional Digital Asset Index, which focuses on Bitcoin and Ethereum. Grayscale, on the other hand, seeks to convert its Digital Large Cap Fund—holding Bitcoin, Ethereum, Solana (SOL), and XRP—into an ETF.
These developments highlight the growing push to make crypto investing as accessible as traditional stocks.
Is the SEC Ready for Altcoin ETFs? The Future of Crypto Funds
Big changes could be coming for crypto ETFs in the U.S.! SEC Chair Gary Gensler, known for his tough stance on crypto, plans to step down on January 20, 2025. This aligns with the start of Donald Trump’s second presidential term. Trump, a pro-crypto advocate, has criticized Gensler’s strict approach and promises reforms to boost the crypto industry.
A leadership change at the SEC could affect the approval of cryptocurrency-related financial products. Key points from Bloomberg ETF analyst James Seyffart:
Index ETFs with Altcoins: Approval for ETFs holding altcoins like XRP and Solana will depend on whether the SEC views these coins as compliant with current rules.
Bitcoin & Ethereum: If most of the ETF’s assets are in Bitcoin and Ethereum, concerns about altcoins may be less significant.
Uncertainty: While there’s optimism for these products, the SEC’s new leadership will play a crucial role in making final decisions, based on their priorities and approach.
