Brazil-based crypto asset manager Hashdex is making strides towards launching a new exchange-traded fund (ETF) that will directly hold Bitcoin and Ether.
If approved, the Hashdex Nasdaq Crypto Index US ETF would become the first index-based crypto ETF available in the United States.
Hashdex filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) on July 24 for its dual spot ETF.
The proposed product is expected to hold Bitcoin and Ether initially, but the company has indicated that it may expand to include other cryptocurrencies in the future, depending on regulatory developments.
The crypto index ETF is set to be listed and traded on Nasdaq, following the Nasdaq Crypto Index US methodology. Nasdaq had previously filed a Form 19b-4 for the fund in June, which is an important step in the regulatory process.
If Hashdex decides to add other cryptocurrencies to its listing rules in the future, Nasdaq will need to file a 19b-4 with the SEC to seek approval.
