Hashdex has applied for the registration of a "mixed" Ethereum-ETF
Date: 2023-09-13 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
The Nasdaq Stock Exchange has filed an application with the US Securities and Exchange Commission (SEC) to list an Ethereum-ETF from crypto asset management company Hashdex. The firm plans to trade both spot products and futures contracts.
Dubbed the Hashdex Nasdaq Ethereum-ETF, the fund will be managed and controlled by Toroso Investments. This organization is a member of the National Futures Association and a commodity pool operator at the Commodity Futures Trading Commission.
A special feature of the fund is its mixed investment model. He plans to invest in spot Ethereum, Ethereum futures contracts listed on the Chicago Mercantile Exchange, and cash and cash equivalents.
“Rather than holding 100% of spot Ethereum, which could make it more susceptible to price manipulation in the market, the Hashdex Nasdaq Ethereum-ETF will hold a mix of spot Ethereum, futures contracts and cash,” Nasdaq said in a filing on Form 19b- 4.
Management believes this model will reduce the fund's exposure to the spot market and reduce concerns about potential price manipulation.
In early September 2023, Ark Invest and 21 Shares filed applications with the SEC to register a spot Ethereum ETF. In August, they asked the regulator to approve trading of futures ETFs on Ethereum.
