Cryptocurrency asset management firm Hashdex has filed a joint Spot Bitcoin and Ethereum ETF application with the US Securities and Exchange Commission (SEC) today. Indeed, Bloomberg ETF analyst James Seyffart reported the filing, noting that it “makes a lot of sense.”
The application will face a deadline for approval with the SEC in March 2025, Seyffart reports. Additionally, he notes that the filing includes language that would “allow the addition of other digital assets essentially as they are approved by the SEC.”
Also Read: Australia’s Largest Stock Exchange Approves 1st Spot Bitcoin ETF
Hashdex Files Joint BTC and ETH ETF
Six months into the year, crypto-based ETFs have dominated discussions. The investment offerings have become one of the most talked about developments within the finance sector this year, and that is likely to only increase. The success of Bitcoin’s ETF approved in January has been undeniable, propelling the leading cryptocurrency to a $73,000 all-time high in March 2024.
Now, Hashdex has officially filed an application for a joint Spot Bitcoin and Ethereum ETF with the SEC. Bloomberg’s ETF analysts reported the filing Tuesday while divulging the interesting facets of the investment product.
According to Seyffart, the ETF would seek to increase its offered cryptocurrencies in accordance with the agency’s regulatory action. That would certainly be a game-changer. To this point, Bitcoin and Ethereum are the only assets to have a spot ETF approved by the SEC.
Also Read: Bloomberg Analysts Move Up Expected Ether ETF Launch to July 2
Seyffart noted that the product “makes complete sense as a future goal.” He also revealed that the filing includes two custodians, Coinbase and BitGo. While this application has been filed, the market is still waiting for Ethereum ETFs to officially go live.
Many experts have predicted that the ETH offerings will officially begin trading before July 4th. Still, analysts have noted that no official filings have come to light that would indicate a more accurate timetable.