The Nasdaq exchange has filed with the SEC to list Brazilian asset manager Hashdex’s Ethereum (ETH) ETF.
The ETF issue, which is of critical importance for the crypto industry, has come to the fore again with Nasdaq’s new move. Nasdaq has filed with the Securities and Exchange Commission (SEC) to list Brazil-based asset manager Hashdex’s Ethereum ETF on spot and futures.
Hashdex announces ETF-led plans
The fund, called Hashdex Nasdaq Ethereum ETF, is managed and controlled by Toroso Investments, which is registered with the Commodity Futures Trading Commission as a commodity pool operator and is a member of the National Futures Association.
Whether the proposed crypto ETF will be held in futures contracts or spot funds was the main topic of the final application process. The SEC approved the first application but not the next. Fund managers are now resorting to different methods.
The Hashdex fund states its investment objective is for its shares to reflect daily changes in the price of the Nasdaq Ether Reference Price. Additionally, investing in Ethereum futures contracts, cash and cash equivalents listed on CME is among the company’s plans.
“The fund will hold a mix of spot ETH, ETH Futures Contracts, and cash, rather than holding 100 percent spot ETH, which may become more susceptible to price manipulation in the spot market,” Nasdaq wrote on form 19b-4. said .
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