Fun

Hashdex files with SEC for combined spot Bitcoin and Ether ETF

News Feed - 2024-06-19 03:06:06

Derek Andersen5 hours agoHashdex files with SEC for combined spot Bitcoin and Ether ETFIf approved, the crypto ETF would be the first of its kind, but probably not the last.3594 Total views4 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksHashdex has proposed in a June 18 filing with the United States Securities and Exchange Commission (SEC) to create a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund (ETF) on the Nasdaq exchange. 


The proposed ETF would balance the crypto assets according to their market capitalizations, cited as 70.54% Bitcoin (BTC) and 29.46% Ether (ETH) on May 27. Its passive investment strategy would track the daily market movement on the Nasdaq Crypto US Settlement Price Index without trying to “beat” it.An ETF with the best of all worlds


A combined-asset ETF “makes a lot of sense,” analyst James Seyffart said. The ETF would not invest in other spot assets besides BTC and ETH. However, it added:“In the event that any other crypto asset is included (other than bitcoin or ether), or is eligible for inclusion as an Index Constituent […], the Sponsor will transition the Trust’s investment strategy […], with only bitcoin and ether in the same proportions determined by the Index.”


Crypto assets are eligible for inclusion under a set of rules that “includes being currently listed on a U.S.-regulated digital asset trading platform or serving as the underlying asset for a derivative instrument listed on a U.S.-regulated derivatives platform,” the filing said.


Related: Former Binance​.US CEO joins Hashdex board


Both Coinbase and BitGo will serve as custodians for the BTC and ETH assets. They will offer segregated accounts for individual shareholders.Hashdex innovates ETF structures


Brazil-based investment manager Hashdex filed with the SEC to create an ETH ETF but later withdrew its application. Its indexed crypto ETF traded in Brazil contains nine coins, with BTC and ETH accounting for nearly 92% of the value. Its U.S.-traded spot BTC ETF contains up to 5% BTC futures contracts and acquires the spot asset on the CME.Source: James Seyffart


Hashdex is still required to file and receive SEC approval on an S-1 application. The agency has 90 days to respond to the 19-b4, during which time it will accept comments from the public and other financial institutions on the proposal. According to Seyffart, a final SEC decision on the fund should be seen no later than March 2025.


Magazine: Ethereum’s recent pullback could be a gift: Dynamo DeFi, X Hall of Flame# Bitcoin# Cryptocurrencies# Business# Security# Ethereum# Bitcoin Price# SEC# Ether Price# ExchangesAdd reaction

News Feed

Ethereum Multi-Year Consolidation Could Spark A Parabolic Move – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider
Crypto Exchange Binance Approved by French Regulator as a Fully Regulated Digital Asset Service Provider Cryptocurrency exchange Binance has received regulatory approval from the F
Thai regulator cracks down on deceptive crypto ads
Arijit Sarkar1 hour agoThai regulator cracks down on deceptive crypto adsRegulators from key crypto markets, including the United Kingdom and Spain, have also taken similar measures against misleading crypto advertisemen
Biggest Movers: MATIC, QNT Move Higher on Friday, as Cryptos Rebound
Biggest Movers: MATIC, QNT Move Higher on Friday, as Cryptos Rebound Polygon was a notable gainer on Friday, as cryptocurrencies moved higher following a turbulent week of trading.
Discount on Grayscale’s GBTC Plunges to New Record Low as Competition From Emerging Rivals Intensifies
Discount on Grayscale"s GBTC Plunges to New Record Low as Competition From Emerging Rivals Intensifies The premium on Grayscale Investment’s GBTC, which tu
Google Trends Data Shows Bitcoin Search Interest Surged This Week Amid 10-Month Price High
Google Trends Data Shows Bitcoin Search Interest Surged This Week Amid 10-Month Price High According to worldwide data from Google Trends, the search term “bitcoin” h
‘Atomic Settlement’ — New York Fed Completes First Phase of Digital Dollar Experiment Called ‘Project Cedar’
"Atomic Settlement" — New York Fed Completes First Phase of Digital Dollar Experiment Called "Project Cedar" The Federal Reserve Bank of New York has published findings stemming
The Algorithms That Control the Cryptocurrency Market
The Algorithms That Control the Cryptocurrency Market Algorithms are at the heart of 21st century life, invisibly controlling many of the systems we use and take for granted on a
New York Watchdog Extends Window for Bittrex Users to Withdraw Funds
Crypto exchange Bittrex will once again extend its deadline for New York customers to withdraw funds from their accounts following approval from the New York Department of Financial Services (NYDFS).
Bitcoin Enters Oversold Levels, Analyst Warns This Is Bearish, Not Bullish
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Savannah Fortis10 hours agoBiden administration issues executive order for new AI safety standardsBiden’s executive order establishes six new standards for AI safety and security and its intentions for ethical AI usage
Consensys Aims for $3 Billion Valuation in Upcoming Funding Round
Consensys Aims for $3 Billion Valuation in Upcoming Funding Round Consensys, the Ethereum-based software boutique, is aiming to get a valuation that could reach $3 billion dollars