Hashdex has submitted a proposal to the Securities and Exchange Commission to create an exchange-traded fund that would include both Bitcoin (available on Coinbase) (BTC) and Ethereum (available on Coinbase) (ETH). The proposed ETF, named Hashdex NASdaq Crypto Index US ETF, aims to offer investors exposure to the two leading cryptocurrencies, reflecting their distribution in the NASdaq Crypto Index.

The ETF would be composed of approximately 70.54% Bitcoin (available on Coinbase) and 29.46% Ethereum (available on Coinbase), adhering to a market-cap-weighted strategy that mirrors the broader cryptocurrency market as represented by the NASdaq Crypto Index.

This initiative marks a significant advancement in integrating digital assets into conventional financial instruments, potentially broadening the accessibility of cryptocurrencies to a wider range of investors. The fund will be backed by custodians Coinbase (NASDAQ:COIN) Custody Trust Company and BitGo Trust Company and will maintain cash reserves.

While initially focusing on Bitcoin (available on Coinbase) and Ethereum (available on Coinbase), the ETF may consider including additional digital assets in the future, pending SEC approval. This proposal arrives during a favorable regulatory climate, following the SEC’s approval of Bitcoin (available on Coinbase) spot ETFs and the anticipated introduction of Ethereum (available on Coinbase) ETFs in the U.S. market.

SEC Chair Gary Gensler recently indicated to a Senate committee that Ethereum (available on Coinbase) ETFs might begin trading by this summer.

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