Hashdex Combined Bitcoin and Ethereum ETF Acknowledged By US SEC

The combined Bitcoin (BTC) and Ethereum (ETH) ETF from the asset management firm Hashdex has finally caught the attention of the United States Securities and Exchange Commission (SEC).,The Commission released a filing a few days ago, acknowledging Hashdex’s interest in listing and trading a combined spot Bitcoin and Ethereum ETF.,,Consequently, the SEC noted that it was publishing the notice to solicit comments from the public on the proposed rule change. Noteworthy, the ETF, titled Hashdex Nasdaq Crypto Index US ETF, is designed to provide institutional investors with direct exposure to both Bitcoin and Ethereum. It will achieve this while circumventing the risks associated with these digital currencies.,Hashdex’s filing was highlighted by Nate Geraci, the President of ETF Store. In the company’s filing to the SEC, it was stated that the proposed ETF will be managed and controlled by Hashdex but administered by Tidal ETF Services LLC. Should the securities regulator give its approval to the 19b-4 filing for combined spot Bitcoin and Ethereum, Hashdex will also need approval for an S-1 application.,Additionally, the asset manager intends to enter into an agreement with Coinbase Custody Trust Company and Bitcoin Trust. This entity will serve as custodians for the underlying BTC and ETH. If the public comments are in favor of Hashdex’s combined spot Bitcoin and Ethereum ETF application, the SEC may still delay in making a decision on the filing.,However, the deadline for the Commission’s approval is likely around March 2025.,The recent activities in the U.S. financial market and the applications that the SEC has been receiving lately are a testament that spot Bitcoin ETF paved the way for crypto products in the region. Since the beginning of this year when the U.S. SEC approved Bitcoin ETFs, crypto enthusiasts have been talking about other possible Exchange-traded Products (ETPs).,Spot Ethereum ETFs were approved by the Commission on May 23, marking a significant milestone for all digital assets referred to as “securities.” Shortly after, VanEck released its filing for Solana ETFs to track Solana (SOL) price.,Notably, this is the first spot Solana ETF filing in the United States. Before Q2, 2024 ended, 21Shares also joined VanEck by submitting its Solana ETF filing. More crypto ETP filings including XRP ETFs are likely to show up soon.,Read More: What Does the US Marshals Service Gain from Partnering with Coinbase?,

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