Hashdex again amends S-1 for Nasdaq Crypto Index US ETF

As a seasoned crypto investor with over a decade of experience navigating the ever-evolving digital asset landscape, I find myself excited by the recent developments surrounding cryptocurrency ETFs. The progress made by Hashdex and other asset managers like Franklin Templeton and Grayscale in their pursuit of crypto index ETFs is not only significant but also a testament to the growing maturity of the crypto market.

From my perspective as a researcher, I recently discovered that Hashdex, an asset manager, has resubmitted an amended application for their proposed Exchange-Traded Fund (ETF). This innovative ETF is intended to function as a comprehensive cryptocurrency portfolio, serving as a one-stop solution for investors. The latest update on this submission was disclosed in a regulatory filing dated November 25th.

The revised filing signals continued progress for the crypto index ETF with the Securities and Exchange Commission (SEC), the United States’ top financial regulator.

In October, Hashdex submitted an adjusted version of their S-1 form following a request from the SEC for additional time to make a decision about whether to approve the ETF for trading.

Initially, the Hashdex Nasdaq Crypto Index US ETF will primarily consist of Bitcoin (BTC) and Ether (ETH), which are the sole assets presently featured in the Nasdaq Crypto US Index. However, it’s possible that more digital currencies may be added to the ETF in the future, as suggested by the filing.

According to industry experts, it seems that crypto index Exchange-Traded Funds (ETFs) will be a major emphasis for issuers following the listing of ETFs containing Bitcoin (BTC) and Ethereum (ETH) in January and July.

In simpler terms, Katalin Tischhauser, who leads research at crypto bank Sygnum, stated to CryptoMoon in August that the natural progression might be towards exchange-traded funds (ETFs) based on indices in the crypto world. She explained that this is because indices are beneficial for investors, much like how people invest in the S&P 500 through an ETF in traditional markets. The idea is that this same concept would apply to the cryptocurrency market as well.

Following Donald Trump’s victory in the U.S. elections on November 5th, the Securities and Exchange Commission (SEC) appears to have become more lenient towards cryptocurrency regulation. This is due to President Trump’s pledge to transform the United States into a global leader in the crypto industry.

As a crypto enthusiast, I learned on November 21st that Gary Gensler, infamous for his strict approach to cryptocurrency regulations, plans to leave the Securities and Exchange Commission (SEC) on January 20th, 2025. This development has left me wondering about potential changes in the regulatory landscape for digital assets over the next few years.

In July, Trump publicly stated his intention to dismiss Gensler as a tactic to appeal to cryptocurrency supporters prior to the presidential election. Gensler is scheduled to depart from the agency on the very first day of Trump’s second term as president.

Asset managers Franklin Templeton and Grayscale are also seeking to launch crypto index ETFs.

The Franklin Cryptocurrency Tracking ETF follows the progression of the CF Institutional Digital Asset Index, an index similar to the Nasdaq Cryptocurrency U.S. Index, at present, it includes only Bitcoin (BTC) and Ethereum (ETH).

The Grayscale Digital Large Cap Fund, established in 2018 and currently non-exchange traded, includes a variety of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple‘s XRP (XRP) among its holdings within its crypto index portfolio.

Among the suggested index ETF proposals, Grayscale’s fund stands out by following a collection that includes not only traditional cryptocurrencies but also alternative ones.

2024-11-26 01:35

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