2025-03-18
Investment firm Hashdex has amended its
regulatory filing to expand its crypto index ETF.
The proposed changes would add seven
altcoins—Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX),
Litecoin (LTC), and Uniswap (UNI)—alongside Bitcoin (BTC) and Ethereum (ETH).
The update was submitted to the U.S.
Securities and Exchange Commission (SEC) on March 14, 2025.
The Hashdex Nasdaq Crypto Index US ETF,
launched in February 2024, currently holds only Bitcoin and Ethereum.
It follows the Nasdaq Crypto US Index,
which tracks only these two largest cryptocurrencies.
With the proposed update, the fund
would switch to the broader Nasdaq Crypto Index (NCI), which includes a wider
range of digital assets.
However, Hashdex has not specified when
this change would happen, and the SEC must approve the proposal before it takes
effect.
This is the first time Hashdex has
named specific altcoins in its filings. The company describes these assets as
decentralized networks secured by public key cryptography, with values driven
by market supply and demand.
Crypto index ETFs provide diversified
exposure to digital assets. Since spot Bitcoin ETFs were approved in January
2024, industry analysts see multi-asset crypto funds as the next step in
expanding investment options.
Other firms, such as Grayscale, are
also working on similar ETFs. Grayscale is seeking to convert its Digital Large
Cap Fund, which holds BTC, ETH, SOL, and XRP, into an ETF.
The SEC is reviewing several crypto ETF
applications this year, including those focused on staking, in-kind
redemptions, and broader altcoin exposure. However, the approval timeline is
unclear as regulators assess risks tied to these investments.
If approved, Hashdex’s expanded ETF
could provide U.S. investors with a regulated option for diversified crypto
investments, instead of single-asset funds.
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