Hashdex Seeks SEC Approval for Combined Bitcoin-Ethereum ETF

Hashdex’s Dual Crypto ETF Filing

Brazilian asset management firm Hashdex has filed with the Securities and Exchange Commission (SEC) for a combined Bitcoin and Ethereum exchange-traded fund (ETF). If approved, this ETF will be listed on Nasdaq, offering investors 70.54% exposure to Bitcoin and 29.46% to Ethereum.

James Seyffart, Senior ETF Analyst at Bloomberg Intelligence, noted that the SEC’s decision is expected by March 2025. Laurent Kssis, an independent board member of Issuance Swiss AG, highlighted the innovative nature of this move, reflecting the regulator’s evolving stance on new tokens, with Ethereum next in line.

Crypto ETPs in Europe

While Hashdex’s proposal is unique in the U.S. market, similar crypto exchange-traded products (ETPs) have been successful in Europe. Firms like 21Shares offer various crypto ETPs, tracking individual and multiple cryptocurrencies, on platforms such as Germany’s Xetra and the Nordic Growth Market in Sweden.

These European ETPs have been well-received, indicating strong investor demand for regulated digital asset investments. Laurent Kssis pointed out that similar products have been available in Europe since 2019, suggesting the U.S. market could follow suit.

Hashdex’s ETF filing is noteworthy given the SEC’s historically cautious approach to crypto ETFs, marking a potential shift in the regulatory landscape.