In a most audacious turn of events, the esteemed Nasdaq has ventured forth with a proposal most intriguing, one that seeks to permit the trading and listing of investment products most assuredly linked to the ever-enigmatic digital assets. Such a revelation was disclosed in a recent filing, which, I daresay, has set the financial world abuzz with speculation and delight.
The proposal, which one might whimsically refer to as Nasdaq Rule 5712, endeavors to allow companies the privilege of listing securities that are, in fact, backed by these digital assets. How delightfully modern! One can only imagine the conversations at tea parties, where the topic of digital securities will surely eclipse the usual discussions of lace and embroidery.
Among the securities in question are those from companies that possess digital assets, as well as investment interests derived from cash, derivatives, or other such sources. Furthermore, it is proposed that the Hashdex Nasdaq Crypto Index US ETF be gracefully transitioned to this new rule from its current, albeit less glamorous, listing category. A most splendid upgrade, if I may say so!
The filing, in its genteel manner, did mention, “This proposal aims to amend representations regarding the investment objective and strategy of the [Hashdex Nasdaq Crypto Index US ETF] made in the rule change previously filed with and approved by the Securities and Exchange Commission relating to the Trust.” Such a mouthful! One can only hope that the SEC is as enamored with this proposal as we are.
As for the cryptocurrency investing company Hashdex, it finds itself in the esteemed position of managing the Hashdex Nasdaq Crypto Index US ETF. According to its registration statement from July 2024, the fund’s primary holdings consist of Bitcoin and Ether, though it may also dabble in other digital assets, all in accordance with the ever-evolving U.S. crypto legislation. How thrilling it must be to navigate such uncharted waters!
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2025-02-19 22:45