Hashdex, a Brazil-based digital asset manager, has filed a proposal with the SEC to expand its ETF by adding XRP and Cardano. Key criteria include trading on major exchanges and maintaining free-floating prices.
Criteria for Cryptocurrency Inclusion
Cryptocurrencies must be available on major exchanges like Bitstamp, Coinbase, and Gemini, and maintain free-floating prices. Hashdex evaluates additional factors such as security and innovation, excluding meme tokens.
Current ETF Structure and Assets
As of March 17, Bitcoin comprises 88.3% of the ETF’s assets, and Ethereum accounts for 11.7%. The ETF currently holds $70.43 million in net assets. An expanded version of the fund is already listed on the Bermuda Stock Exchange.
Market Trends and Impact on XRP
XRP is trading at $2.2776 today, a 0.74% decline in 24 hours. Despite corrections, XRP grew by 267.89% over the year. Technical indicators signal a short-term sell but suggest potential recovery in the long term.
Hashdex's ETF expansion to include XRP and Cardano may boost diversification interest in crypto investments. Given regulatory conditions, such products could play a significant market role.
