Hashdex Aims to Launch First Combined Bitcoin and Ether Spot ETF

Hashdex has submitted a proposal to the Securities and Exchange Commission (SEC) to create a combined spot Bitcoin (BTC) and Ether (ETH) exchange-traded fund (ETF). This innovative ETF would be the first of its kind, tracking the daily market movement of BTC and ETH based on their market cap allocation. Analyst James Seyffart believes this combined-asset approach makes sense, as it would not invest in other spot crypto assets besides BTC and ETH. The ETF would be passively managed, following the Nasdaq Crypto US Settlement Price Index. Custodial services for the BTC and ETH assets will be provided by Coinbase and BitGo, offering segregated accounts for individual shareholders. Hashdex has a history of pioneering crypto ETF structures, having previously launched an indexed crypto ETF in Brazil and a U.S.-traded spot BTC ETF with futures contracts. The SEC has 90 days to respond to the proposal and a final decision is expected no later than March 2025.