Key Points
- Hashdex applied for a dual Bitcoin and Ethereum ETF.
- Coinbase and BitGo are mentioned as custodians.
According to the latest reports revealed by Bloomberg’s analyst James Seyffart, Hashdex just dropped a dual Ethereum and Bitcoin ETF filing.
In a post on X, Seyffart noted that the ETF will be market cap weighted and this should not be a surprise to anyone, as it makes a lot of sense.
He also noted that the final deadline for SEC approval should be sometime around the first week of March 2025.
Seyffart also noted that there is language in the form that allows the addition of other digital assets essentially as they are approved by the SEC.
The notes reveal that in the event that any other crypto asset is included (besides BTC and ETH) or is eligible for inclusion as an Index Constituent, the Sponsor will transition the Trust’s investment strategy from full replication to sample replication with only BTC and ETH in the same proportions determined by the Index.
Eligible assets for Index inclusion
The notes also reveal that pursuant to the Index Rules, to be eligible for Index inclusion, cryptos must meet the following criteria on a quarterly basis:
- have active tradable markets listed on at least two Core Crypto Platforms
- be supported by at least one Core Custodian
- have a median daily trading volume in the USD pair conducted
Seyffart also noted that Hashdex already has a crypto index ETF traded in Brazil. These are the assets held by it and their weights in the fund. 90% consists of Bitcoin and Ethereum:
The Ticker for the ETF in Brazil is $HASH11.
The analyst also highlighted the fact that it’s interesting to note that Hashdex will be using at least two custodians, Coinbase and BitGo.
“The Trust will not invest in crypto securities, tokenized assets or stablecoins,” according to the filing.
Nasdaq posted the proposal via Form 19b-4 today, June 18, for the Hashdex Nasdaq Crypto Index US ETF.
