Hashdex’s S-1 filings for the Nasdaq Crypto Index US ETF have been updated.
Asset manager Hashdex filed an amended registration application for an exchange-traded fund (ETF) proposed as a one-stop-shop cryptocurrency portfolio, according to a regulatory filing on October 1.
The filing marks continued progress for the crypto index ETF with the U.S. Securities and Exchange Commission after the agency asked for more time in August to reach a decision on whether to authorize the exchange-traded fund.
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.
The Nasdaq Crypto US Index tracks only Bitcoin and Ether. Source: Nasdaq
Related: Buoyed by crypto inflows, US ETF assets hit $10 trillion record
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.
Asset manager Franklin Templeton wants to launch a similar crypto index ETF, according to a filing on Aug. 16.
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.
Tischhauser said crypto index ETFs are currently limited to BTC and ETH because they are the only assets the SEC has allowed to be included in ETFs so far.
“They intend for it to be an index, and as long as they only approve Bitcoin and Ethereum, that's what it's going to hold,” Tischhauser said. She added that demand for new single-asset ETFs, such as the Solana ( SOL ) fund, is limited.
The top ETF will launch in 2024. Source: ETF Store
By 2024, total assets in U.S. ETFs surpassed $10 trillion for the first time on Sept. 27, according to data from Bloomberg Intelligence and fund researcher Morningstar.
Crypto ETFs 13 of the biggest ETF launches in 2024 took inflows as of the end of August, according to Nate Geracchi, president of The ETF Store — an investment adviser specializing in ETFs.
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