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Three weeks after <a href="https://coingape.com/hashdex-nasdaq-withdraws-spot-ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">withdrawing its spot Ethereum ETF</a> application, asset manager <a href="https://coingape.com/breaking-hashdex-ethereum-etf-faces-sec-decision-hold-until-may/" target="_blank" rel="noopener noreferrer nofollow">Hashdex</a> has submitted a 19b-4 filing for combined spot Bitcoin and Ethereum ETFs.
<h2 id="strong-hashdex-triggers-new-wave-of-etf-applications-strong">Hashdex Triggers New Wave of ETF Applications</h2>
The news of the filing was highlighted by Nate Geraci, the President of ETF Store.
<blockquote class="twitter-tweet">
 There it is…
 19b-4 filing for *combined* spot btc &amp; eth ETF.
 Hashdex Nasdaq Crypto Index US ETF.<a rel="noopener noreferrer nofollow" href="https://t.co/4xw4ae8Mad">https://t.co/4xw4ae8Mad</a>
 h/t <a rel="noopener noreferrer nofollow" href="https://twitter.com/strack_ben?ref_src=twsrc%5Etfw">@strack_ben</a> <a rel="noopener noreferrer nofollow" href="https://t.co/yK7azbyfxv">pic.twitter.com/yK7azbyfxv</a>
 — Nate Geraci (@NateGeraci) <a rel="noopener noreferrer nofollow" href="https://twitter.com/NateGeraci/status/1803080047303036971?ref_src=twsrc%5Etfw">June 18, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
He shared a screenshot of the document that was submitted to the United States Securities and Exchange Commission (SEC) by the Nasdaq stock exchange on June 17. According to the description added to the filing, the stock exchange is proposing to list and trade shares of the Hashdex Nasdaq Crypto Index US ETF under Nasdaq Rule 5711(d).
Notably, the proposed ETF will be managed and controlled by Hashdex but administered by Tidal ETF Services LLC. This is after the SEC must have given its approval following the filing of an S-1 application. Just like many other spot crypto ETF issuers, Hashdex plans to enter into an agreement with Coinbase Custody Trust Company and Bitcoin Trust to serve as custodians for the underlying digital assets of the ETF.
Apart from the fact that this potential ETF is a combination of digital assets, in this case, <a href="https://coingape.com/spot-bitcoin-etf-hashdex-jumps-last-minute-hoops-ahead-of-historic-approval/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> and ETH, it is not different from either of the two single ETFs that the U.S SEC greenlighted this year. It is designed to offer institutional investors and retail traders investment exposure to Bitcoin and Ethereum via the public securities market without holding the cryptocurrencies directly.
The deadline for the Commission’s approval is likely around March 2025.
<h2 id="strong-hashdex-and-grayscale-withdraw-spot-ethereum-etf-applications-strong">Hashdex And Grayscale Withdraw Spot Ethereum ETF Applications</h2>
This new development comes barely three weeks after Hashdex withdrew its <a href="https://coingape.com/ethereum-etfs-may-propel-eth-to-record-highs-says-bitwise-cio/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETF</a> application.&nbsp; In a plot twist, the withdrawal was only a week after the <a href="https://coingape.com/us-sec-approves-8-spot-ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">U.S. SEC gave green light</a> to similar proposals from eight other issuers including VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest and 21Shares, Invesco and Galaxy and BlackRock.
Investment asset management firm <a href="https://coingape.com/grayscale-gbtc-outflows-resume-as-fed-official-hints-at-keeping-interest-rates-high/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a> also followed the same path as Hashdex about a month ago. The firm sent shockwaves through the crypto industry by withdrawing its <a href="https://coingape.com/ethereum-etf-why-is-grayscale-dropping-eth-futures-application/" target="_blank" rel="noopener noreferrer nofollow">application for the Ethereum Futures ETF</a>. The reason behind the decision was not disclosed initially, causing analysts to speculate.
According to Bloomberg ETF Research Analyst, James Seyffart, Grayscale was likely trying to replicate the circumstances that led to the approval of their GBTC Bitcoin ETF.
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The post <a href="https://coingape.com/hashdex-files-19b-4-for-combined-spot-bitcoin-and-ethereum-etf/" rel="noopener noreferrer nofollow">Hashdex Files 19b-4 For Combined Spot Bitcoin and Ethereum ETF</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Hashdex Files 19b-4 For Combined Spot Bitcoin and Ethereum ETF

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