Hashdex has submitted an amendment to the SEC to expand its Nasdaq Crypto Index US ETF composition, moving beyond Bitcoin and Ethereum to include altcoins.
Hashdex to Add Major Altcoins to ETF
Hashdex's latest move involves submitting an amendment to the SEC to broaden the scope of its Nasdaq Crypto Index US ETF. Previously limited to Bitcoin and Ethereum, the proposal will now include Solana, XRP, Cardano, Chainlink, Avalanche, Litecoin, and Uniswap. Each cryptocurrency operates on its respective network, ensuring diverse blockchain representation.
ETF Expansion Likely to Influence Market Dynamics
Similar expansions in crypto ETFs in 2023 influenced market trends, boosting altcoin visibility among institutional investors. Hashdex’s move could attract comparable interest. Although current price data for the proposed additions is unavailable, historical trends suggest increased ETF diversity correlates with enhanced investor interest.
Hashdex's decision to broaden its index signals a pivotal moment for cryptocurrency ETFs, potentially influencing other financial instruments to expand their crypto offerings.
