Following the SEC's approval for Bitcoin and Ethereum ETFs, the race for altcoin ETFs continues. Asset manager Hashdex has filed a new application to add six altcoins to their ETF.
Hashdex's New Application Stage
Hashdex has filed for SEC permission to add six new altcoins to the Nasdaq Crypto Index US ETF (NCIQ), which initially included only Bitcoin and Ethereum.
Composition of Hashdex's Altcoins and ETF
Hashdex's application proposes to add Solana, XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin, and Uniswap (UNI) to the ETF.
Current Structure and Features of NCIQ
The NCIQ began trading after SEC approval on February 13 and is available on Nasdaq under the ticker NCIQ. It is currently the first dual-asset ETF in the US, featuring BTC and ETH exclusively. The total assets of the ETF amount to about $70 million, with 88% in BTC and 12% in ETH.
Hashdex's request to add six altcoins to the ETF could significantly broaden the representation of digital assets in the ETF market, potentially leading to increased investor interest.
