TL; DR
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Digital asset manager, Hashdex, has just released a S-1 registration statement for its ‘Hashdex Nasdaq Crypto Index US ETF’, which will essentially do just that to combine spot Bitcoin and Ethereum ETFs in the US
Full story
Here’s something interesting.
Digital asset manager, Hashdex, has just released a S-1 registration statement for its ‘Hashdex Nasdaq Crypto Index US ETF’, which will essentially do just that to combine spot Bitcoin and Ethereum ETFs in the US
That’s cool: if/when approved, investors can buy one stock and get the return on the average return of both ETH and BTC ETFs.
But here’s the part that excites us:
“If a crypto asset other than bitcoin and ether is eligible for inclusion in the Index, Sponsor will transition to a sample replication strategy, using only bitcoin and ether in the same proportions as determined by the Index.”
In other words, if/when a SOL spot ETF is approved (for example), it will also be added to the Crypto Index US ETF.
(And if you read between the lines, they wouldn’t have mentioned that if they didn’t think it was likely to happen).
While you could simply buy a portfolio of BTC and ETH ETFs to achieve the same result, this will simplify that process.
And investors generally opt for simpler/faster processes.
We’ve seen innovation in the public markets through BTC ETFs, ETH ETFs, crypto futures ETFs, and now aggregated crypto ETFs (assuming this gets approved).
Gotta love that!