Hashdex applies for Bitcoin Ethereum blended spot ETF

The issuer Hashdex, which withdrew its Ethereum spot ETF application at the end of May, has once again submitted documents to the SEC. This time, the application is for the Hashdex Nasdaq Crypto Index US ETF, which aims to track the Nasdaq Crypto US Settlement Price Index. The current targets include spot Bitcoin (BTC) and Ethereum (ETH).

Hashdex's Cryptocurrency Index ETF in Brazil

Hashdex has launched a cryptocurrency index ETF in Brazil with the code Hash11. It holds over ten different cryptocurrencies, with Bitcoin (BTC) accounting for 65%, Ethereum (ETH) for 26%, as well as Solana (SOL), Ripple (XRP), Cardano (ADA), Chainlink (LINK), and others.

The current market value of Hash11 is 2.66 billion BRL, approximately 490 million USD.

ETF Holding Both Bitcoin and Ethereum

According to the documents, Hashdex's ETF aims to track the Nasdaq Crypto US Settlement Price Index, which currently includes Bitcoin and Ethereum. As of data from 5/27, Bitcoin accounts for 70.54% and Ethereum for 29.46%. The weights will be continuously adjusted based on market capitalization, and the ETF will passively adjust its position according to these weights. It may also add other digital assets in the future, provided they receive approval from the SEC.

This ETF is expected to be listed on the Nasdaq exchange, with Coinbase and BitGo as custodians.

Bloomberg ETF analyst James Seyffart stated:

Bringing this product to the U.S. as a future goal is entirely meaningful!

He also mentioned that the SEC's final approval deadline is expected to be in the first week of March 2025.

Hashdex is also one of the issuers of the U.S. Bitcoin spot ETF, and its DEFI currently has total assets of 11.77 million USD.