The Ethereum spot ETF race is gaining momentum thanks to double-edged reporting by Hashdex

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Cryptocurrency asset management platform based in Brazil, Hashdex has filed for approval of a dual ETF consisting of both Bitcoin and TH, the world’s largest cryptocurrencies. This development occurs as Ethereum ETF Race It’s heating up in anticipation of its official debut before the end of the year.

Hashdex files combined into Bitcoin and Ethereum ETFs

On June 18 X (formerly Twitter) post, Bloomberg analyst James Seyffart revealed Hashdex’s recent 19b-4 filing for a combined Bitcoin and Ethereum ETF. Previously on May 24, the crypto asset management company they withdrew its Spot Ethereum ETF application, posting a withdrawal notice a day after the SEC approved its ETH ETF applications.

Hashdex is taking a novel approach to the cryptocurrency ETF market by opting for this set up a dual ETF on Bitcoin and Ethereuminstead of a conventional individual ETF. According to Seyffart, if the U.S. Securities and Exchange Commission (SEC) approves Hashdex’s novel ETF application, then the crypto asset management company will be the first-ever provider of Spot Bitcoin and ETH ETFs.

The Bloomberg analyst also revealed that the Hashdex dual cryptocurrency ETF will be a market-weighted asset. This means that the ETF will be weighted based on the total market capitalization of both funds Ethereum and Bitcoin.

In the proposal, the percentage of Bitcoin in the combined ETF will be 70.54%, while Ethereum will remain at 29.46%. Hashdex’s filing also revealed that other crypto assets could be added to its Bitcoin and Ethereum dual ETF. However, only assets that meet certain criteria and qualify for inclusion will be considered.

Seyffart too recorded that Hashdex already manages a cryptocurrency index ETF in Brazil. This ETF covers a diverse range of crypto assets, with Bitcoin and ETH making up 90% of its holdings. As a result, the asset management firm’s filing for a dual cryptocurrency ETF in the United States comes as no surprise and effectively aligns with Hashdex’s strategic future goals.

The Bloomberg analyst also noticed this revealed that Hashdex will utilize the services of at least two maintainers Bitcoin and Ethereum ETFs. The documents show that the company has already started working on concluding the contract Coinbase Custody Trust CompanyLLC and BitGo Trust Company, Inc to provide custody of all Bitcoin and Ethereum assets of the trust.

When will trading of Spot EthETHereum ETFs begin?

Cryptocurrency analyst identified in X as “Crypto Capo”. predicted that approval of S-1 Ethereum Spot ETFs and official trading will begin in the next few weeks. This forecast is in line with that of a Bloomberg senior analyst, Eric Balchunas who predicted this would be the case with Ethereum Spot ETFs debut until July 2, 2024

Although the US SEC has approved Forms 19b-4 eight spot ETH ETFsthe regulator still needs to approve S-1 registration statements to begin trading the ETH ETF. Gary Genslerchairman of the SEC, revealed last week that S-1 approvals would likely be issued by the end of the summer.

Meanwhile, Seyffart revealed that the deadline for SEC approval of Hashdex’s combined Bitcoin and Ethereum ETF is around the first week of March 2025.

ETH price drops to $3,500 | Source: ETHUSDT on

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