Bitrabo Editorial
Hashdex, a Brazilian cryptocurrency asset management platform, has filed for a dual ETF containing both Bitcoin and Ethereum as interest grows for Spot Ethereum ETFs to launch soon.
Hashdex Introduces Combined Bitcoin and Ethereum ETFs
On June 18, Bloomberg analyst James Seyffart revealed Hashdex’s filing for a combined Bitcoin and Ethereum ETF, marking a shift from its previous individual Spot Ethereum ETF application withdrawal after the SEC’s ETH ETF approval.
Hashdex aims to offer a unique dual Bitcoin and Ethereum ETF, awaiting SEC approval, which would make it the pioneer in providing such an ETF.
The ETF will be market-weighted, based on the total market capitalization of Ethereum and Bitcoin, with Bitcoin accounting for 70.54% and Ethereum for 29.46%.
Hashdex’s filing also allows for other crypto assets to be added to the ETF under specific criteria and eligibility requirements.
Hashdex’s existing crypto index ETF in Brazil includes a variety of crypto assets, with Bitcoin and ETH making up 90% of its holdings, aligning with its strategic goals for the future.
Hashdex plans to use two custodians, Coinbase Custody Trust Company, LLC and BitGo Trust Company, Inc, to safeguard the Bitcoin and Ethereum assets for the ETF.
Expected Launch Date for Ethereum Spot ETFs
Crypto analysts predict that Ethereum Spot ETFs’ trading is set to commence in the coming weeks, with Bloomberg analysts forecasting a debut by July 2, 2024.
The SEC’s approval of S-1 registration statements is crucial for ETH ETF trading to begin, with expectations that the approvals will happen by the end of the summer.
The SEC is anticipated to approve Hashdex’s combined Bitcoin and Ethereum ETF around the first week of March 2025.