Crypto Investment Company Launches New ETF in the US
Crypto investment company Hashdex has announced plans to launch a new exchange-traded fund (ETF) in the United States that will directly invest in the largest cryptocurrencies by market capitalization — Bitcoin and Ethereum. To implement this project, the company has filed for securities registration with the US Securities and Exchange Commission (SEC) under Form S-1. The new product, called Hashdex Nasdaq Crypto Index US ETF, could become the first spot multi-cryptocurrency fund in the US based on an index.
Potential Impact on the Market
If the SEC approves the application, the fund will be traded on the Nasdaq exchange and will rely on the Nasdaq Crypto Index US. This is important because such funds provide investors with exposure to cryptocurrencies through traditional investment instruments, which could attract more institutional investors and expand access to cryptocurrencies for the general public.
Future Plans and Possibilities
Analysts, such as James Seyfart from Bloomberg, point out that in the future Hashdex may consider adding other major crypto assets to the fund if the regulatory environment becomes more favorable for such moves. The custodians of the new fund will be crypto exchanges Coinbase and Bitgo. Coinbase, in particular, is the largest cryptocurrency custodian for American crypto ETFs, serving 10 out of 11 spot funds on Bitcoin and 8 out of 9 Ethereum funds.
This move underscores the growing recognition of cryptocurrency assets in the traditional financial sector and could be a significant event for the development of crypto investments in the US.
