The filing enables the fund to track the complete composition of the Nasdaq crypto index rather than limiting holdings to the two largest digital assets.
The index is weighted 72.5% in Bitcoin and 14.8% in Ethereum, with Solana comprising 4.3%, Cardano 1.2%, and XRP 6.9%.
The standards aim to streamline approval processes for exchange-traded products tied to digital assets.
Bloomberg’s Seyffart commented on the initial announcement that the combination of Bitcoin and Ethereum “makes a lot of sense.”
The expansion attempt leverages generic listing standards approved by the SEC on Sept. 17 for commodity-based trust shares on major exchanges.
The standards aim to streamline approval processes for exchange-traded products tied to digital assets, shifting from lengthy case-by-case reviews.
However, the generic standards don’t open approval for every type of crypto ETP, with regulatory limitations still applying selectively.
The outcome of Hashdex’s expansion filing could encourage similar attempts by other crypto fund managers seeking broader digital asset exposure beyond Bitcoin and Ethereum.
