Key Points
- Hashdex has submitted a second amended S-1 filing with the SEC for a Nasdaq Crypto Index US ETF.
- Bitcoin and Ethereum ETFs are seeing significant inflows, while other firms are exploring the possibility of XRP-focused ETFs.
Crypto asset management firm, Hashdex, has announced its second amended S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a Nasdaq Crypto Index US ETF.
Hashdex’s Crypto ETF Pursuit
The latest amendment follows Hashdex’s initial S-1 filing, which was modified in October when the SEC requested additional review time. The ETF aims to initially include Bitcoin [BTC] and Ethereum [ETH], the two assets currently tracked by the Nasdaq Crypto US Index. The portfolio may expand to include more digital currencies in the future.
Other key players like Franklin Templeton and Grayscale are also pursuing similar crypto ETFs. Grayscale’s Digital Large Cap Fund, for example, seeks to offer a more diversified experience by including altcoins like Solana [SOL], Avalanche [AVAX], and Ripple [XRP].
Spot BTC and ETH ETF Trends
The broader cryptocurrency ETF market is also achieving new milestones. For instance, spot Bitcoin ETFs recorded net inflows of $3.38 billion for the week of 18th–22nd November, a 102% increase from the previous week.
However, ETH ETFs saw six consecutive days of outflows before rebounding on 22nd November, recording a daily net inflow of $2.83 million. Total net assets for ETH ETFs reached $10.28 billion on 25th November, the first time they’ve surpassed double digits since launch.
In addition, asset manager WisdomTree has registered for an XRP-focused ETF in Delaware, joining Bitwise, 21Shares, and Canary Capital in filing similar applications.
The SEC’s regulatory landscape is evolving, and the surge in crypto ETF filings has ignited curiosity about their prospects in this changing environment. The SEC Chair, Gary Gensler, known for his stringent stance on crypto regulation, is set to resign in 2025. This could signal a more welcoming environment for crypto ETFs and other digital asset innovations.
The question remains whether the SEC will embrace this new era or if the approval process will continue to be a roadblock. The coming months promise to be a defining chapter in the evolution of the crypto market.
