Hashdex Resubmits Crypto Index ETF Proposal

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Asset manager Hashdex has taken steps towards launching a cryptocurrency-focused exchange-traded fund (ETF) in the United States. They have submitted their second amended S-1 application to the U.S. Securities and Exchange Commission (SEC), according to an announcement on Nov. 25.

This amended filing is part of their ongoing efforts to gain regulatory approval for the Nasdaq Crypto Index US ETF. This ETF aims to offer investors exposure to a diverse portfolio of cryptocurrencies. Initially, the fund will include only Bitcoin and Ether, as they are the only assets listed in the Nasdaq Crypto US Index.

However, the filing stated that the portfolio could expand to include other digital currencies over time. The latest filing follows an initial modification to the S-1 application in October, when the SEC requested more time to review the proposal.

The SEC has historically been cautious in approving cryptocurrency-related products, and these amended filings demonstrate Hashdex’s commitment to complying with regulatory requirements. Despite the SEC’s stance, companies like WisdomTree have continued to apply for spot ETFs, such as the latest one for an XRP ETF.