Hashdex has submitted an amendment to its S-1 filing, proposing to expand its crypto ETF by including seven altcoins, subject to SEC approval.
Hashdex Proposes Seven Altcoins for ETF Inclusion
Hashdex has revised its S-1 filing to broaden its Nasdaq Crypto Index US ETF . This proposed update seeks to incorporate seven additional altcoins along with Bitcoin and Ethereum. As per the amendment, these altcoins include SOL, XRP, ADA, LINK, AVAX, LTC, and UNI. The move reflects Hashdex’s strategy to offer a more diversified crypto exposure through regulated vehicles.
“We’re excited to expand our Nasdaq Crypto Index US ETF offering to potentially include a broader range of digital assets, subject to SEC approval. This aligns with our mission to provide investors with diversified crypto exposure through regulated vehicles.” — Marcelo Sampaio, Co-Founder and CEO, Hashdex
Marcelo Sampaio, Co-Founder and CEO of Hashdex, expressed on Twitter the company’s enthusiasm to expand the ETF in line with its commitment to providing varied options for investors. This comes after their successful launch of the world’s first spot XRP ETF in Brazil earlier this month.
Institutions Eye Diversified Crypto Exposure
The development could potentially impact altcoin prices and investor sentiment, subject to SEC’s approval timeline. Hashdex’s recent move to broaden its ETF demonstrates increased institutional interest, as noted by Real Vision’s Raoul Pal. A diversified ETF could attract more institutional investors to the crypto market.
The expanded ETF might lead to a shift in asset allocation strategies among investors, enhancing interest in a more diverse portfolio. Approval processes for similar proposals historically range from 45-240 days.
XRP Price Rise Linked to ETF Launch
The successful launch of the world’s first spot XRP ETF in Brazil by Hashdex sparked a 15% rise in XRP prices, showcasing the potential market influence of such ETF approvals. As the crypto market matures, institutional products are expected to grow in prominence.
Industry experts argue that the proposed expansion signals a burgeoning demand for varied crypto investment options. The move by Hashdex is seen as a proactive step toward meeting this demand while fostering the regulated growth of cryptocurrency markets across jurisdictions.
