Asset manager Hashdex has filed an amendment to its S-1 document, proposing to add seven prominent altcoins to its cryptocurrency index ETF, offering investors exposure to a diverse range of digital assets.
Hashdex Expands Crypto ETF
Hashdex proposes to add Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI) to its crypto index fund, which currently holds only Bitcoin (BTC) and Ether (ETH). The aim is to provide investors with a broader selection of digital assets.
Strategic Changes Amid Regulatory Easing
Hashdex also plans to switch its reference index from the Nasdaq Crypto US Index to the broader Nasdaq Crypto Index, covering more cryptocurrencies. The transition requires SEC approval. This move comes as regulatory sentiment around crypto products eases.
Market Trends Toward Index Crypto ETFs
Hashdex's move aligns with an industry trend towards diversified crypto ETFs. Grayscale has also filed to convert its Digital Large Cap Fund into an ETF, indicating growing demand for multi-asset crypto funds. Index-based crypto ETFs are expected to be the next major industry evolution.
Hashdex's update to its crypto ETF is seen as part of a broader market trend offering investors simplified and diversified access to cryptocurrencies.
