Hashdex re-amends S-1 for Nasdaq Crypto Index US ETF.
Asset manager Hashdex submitted a second amended application for a proposed exchange-traded fund (ETF) designed as a one-stop-shop cryptocurrency portfolio, in a regulatory filing on November 25.
The evolving financial situation with the United States' top financial regulator, the Securities and Exchange Commission (SEC), continues to improve crypto index ETFs.
Hashdex first filed an amended S-1 in October after the SEC requested more time to make a decision on whether to grant the ETF a business license.
The Hashdex Nasdaq Crypto Index US ETF will initially cover Bitcoin (BTC) and Ether (ETH) — currently the only assets included in the Nasdaq Crypto US Index — but may eventually expand to include more digital currencies, the filing said.
Source: Nasdaq
Related: BlackRock's Bitcoin ETF Copies Gold Fund
Industry analysts say crypto index ETFs are the next big focus for issuers after holding BTC and ETH listed in January and July.
“The next logical step is an index ETF because indexes are efficient for investors — just like people buy the S&P 500 in an ETF. This will be the same in crypto,” Kathleen Tischhauser, head of investment research at the crypto bank, told Cointelegraph in August.
The SEC is softening its stance on crypto regulation after Donald Trump pledged to turn the US into the “crypto capital of the world” on November 5.
In the year On November 21, SEC Chairman Gary Gensler, known for his strong stance on cryptocurrency regulation, announced that he will leave the agency on January 20, 2025.
In July, Trump promised to “fire” Gensler to attract crypto enthusiasts before the presidential election. Gensler will leave the agency on the day Trump begins his second term as president.
Source: Bitcoin Archive
Asset managers Franklin Templeton and Grayscale are looking to launch crypto index ETFs.
The Franklin Crypto Index ETF tracks the performance of the CF Institutional Digital Asset Index, which, like the Nasdaq Crypto US Index, currently only includes BTC and ETH.
In the year Created in 2018 but not yet traded, Grayscale Digital's large-cap fund holds a crypto index portfolio that includes BTC, ETH, Solana (SOL) and XRP (XRP), among others.
The Greyscale fund is unique among index ETFs designed to track a basket of alternative cryptocurrencies.
Magazine: US law enforcement agencies are turning up the heat on crypto-related crimes.
