As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset market, I find myself cautiously optimistic about the latest developments regarding the Hashdex Nasdaq Crypto Index US exchange-traded fund and the Franklin Templeton Crypto Index ETF.
For the second time, Hashdex has made changes to its application (S-1) for the Hashdex Nasdaq Crypto Index U.S. exchange-traded fund.
The updated submission, as mentioned in the November 25th SEC filing, is a response to their earlier request in August for additional time to assess the proposal. Originally, Hashdex submitted its S-1 registration statement on June 24th.
For people who are new to this, a Crypto Index ETF is like a collection that follows the ups and downs of several cryptocurrencies. This gives you a broad look at the digital currency market. Its goal is to mimic the performance of a specific index by owning the same assets in approximately the same amounts as they are found within the index.
This ETF, specifically the NCIUS one, plans to limit its holdings to just Bitcoin (BTC) and Ether (ETH). At present, it steers clear of other digital currencies, asset tokens, stablecoins, or any investments related to cryptocurrency securities. Yet, there’s a possibility that additional assets might join the portfolio in the future.
Should it be given the green light, this could mark the debut of America’s initial mixed-asset spot cryptocurrency Exchange Traded Fund (ETF). This unique investment vehicle would provide access to various digital currencies all bundled together within a single fund.
Other companies have also applied for crypto index ETFs with a similar focus. For instance, Franklin Templeton filed an application for their own Franklin Crypto Index ETF in August. This ETF intends to mirror the CF Institutional Digital Asset Index. Similar to Hashdex’s plan, it currently only includes Bitcoin and Ether because of regulatory restrictions, but there is potential for expansion down the line.
On November 20th, the U.S. Securities and Exchange Commission postponed a decision about approving the Franklin Templeton Crypto Index ETF until January 6, 2025. This delay was due to the fact that no comments from the public had been received regarding the proposed rule change since it was first published on October 8th.
As a researcher, it appears that cryptocurrency index funds have emerged as the latest buzz in the industry, following the triumph of Bitcoin and Ether spot ETFs. Notably, key figures such as Nate Geraci, President of The ETF Store, have pointed out that influential players like Grayscale and Bitwise are now delving into the development of diversified cryptocurrency fund offerings.
New advancements occur since the Securities and Exchange Commission (SEC) is on the brink of major leadership shifts following Chair Gary Gensler’s announcement of his departure, which will take place on January 20, 2025.
Under the upcoming pro-cryptocurrency administration headed by Donald Trump, Gensler – who is recognized for his tough regulatory stance on cryptocurrencies – may be replaced with a new appointee, possibly signifying a move towards more accommodating policies within the crypto industry.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- The Final ‘Gladiator II’ Trailer Has Arrived
- IMX PREDICTION. IMX cryptocurrency
- Solana L2 Sonic includes TikTok users in airdrop
- DC’s ‘Clayface’ Movie From Mike Flanagan Lands 2026 Release
- Aamir Khan says India would go ‘ballistic’ if Laapataa Ladies wins Oscars; ‘We have been dying to…’
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- XRP price slips as RLUSD market cap hits $53m, liquidations rise
- POL PREDICTION. POL cryptocurrency
- Ananya Panday claims ‘its tough being Bhidu’ after working with Jackie Shroff; find out why
2024-11-26 10:56