Hashdex plots ETF that would hold both BTC, ETH

The Brazil-based asset manager’s filing comes during a year of milestone bitcoin and ether fund approvals

article-image

Hashdex and Adobe stock modified by Blockworks

share

With US spot bitcoin ETFs trading and ETH funds set to follow soon, Brazilian asset manager Hashdex looks to launch a fund that would hold both assets.

The approval of such a fund in the US would mark another milestone during a year with already a few crypto fund firsts.  

The first US spot bitcoin ETFs received the Securities and Exchange Commission’s long-awaited blessing in January. Spot ether ETF launches are imminent as the agency currently works with fund issuers to finalize the planned funds’ registration statements. 

While the proposed Hashdex Nasdaq Crypto Index US ETF would invest in BTC and ETH, a filing indicates it makes clear it would not invest in “crypto securities, tokenized assets or stablecoins.”

The index that the planned fund would track had a roughly 70% weighting for BTC and 30% weighting for ETH as of May 27. 

Crypto assets meeting certain criteria could be added to the index — such as being listed on a US-regulated platform or serving as the underlying asset for a derivative instrument listed on such a venue.

In such a case, Hashdex intends to shift the fund’s strategy “with only bitcoin and ether in the same proportions determined by the index, and determine whether a filing with the commission under Rule 19b-4 of the Act will be required.”

The index that the planned fund would track had a roughly 70% weighting for BTC and 30% weighting for ETH as of May 27.  

Loading Tweet..

“The sponsor will employ a passive investment strategy that is intended to track the changes in the index regardless of whether the index goes up or goes down, meaning that the sponsor will not try to ‘beat’ the Index,” the filing states.

The Monday proposal was submitted by Nasdaq — the exchange on which the product would trade. It appears Hashdex has not yet submitted a registration statement, or S-1, for the planned ETF. 

A Hashdex spokesperson declined to comment beyond the filing. 

Hashdex sought to transition its bitcoin futures ETF to one that also held BTC directly in the lead-up to US spot BTC fund launches in January. It was not able to do so when its rivals debuted spot products on Jan. 11 — only later gaining that capability.

The asset manager is not currently seeking to offer a US ETF that would only invest in ether.

Updated June 18, 2024 at 11:47 am ET: Added clarification.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

The Arbitrum-based perps DEX recently launched its points campaign

article-image

P2P Foundation founder Michel Bauwens revealed this week that Satoshi wrote him over email in the early days of Bitcoin

article-image

A Blockworks Research report looked at how Hyperliquid has maintained its hype and how it can build out its businesses

article-image

Dragonfly’s Rob Hadick discussed how the firm is approaching investments in the current market

article-image

The asset surged over the past seven days to reach its highest-ever weekly close on the SOL/ETH pair

article-image

Industry watchers note that SOL ETFs have attracted a fraction of the demand for bitcoin and ether ETFs