The Nasdaq stock exchange has applied to the SEC for approval to list an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex. This ETF, known as the Hashdex Nasdaq Ethereum ETF, will include a combination of spot ether holdings and futures contracts in its portfolio. It is the first filing for futures and spot Ether holdings under the ’33 Act and is overseen by Toroso Investments. The primary goal of the fund is to mirror the daily fluctuations in the Nasdaq Ether Reference Price. The fund aims to decrease reliance on the spot market by including Ether Futures Contracts and cash in its holdings. Hashdex is also competing for a spot Bitcoin ETF in the US, taking a different approach from recent filings by acquiring spot Bitcoin from physical exchanges within the CME market. The SEC has deferred its determinations on all applications for spot cryptocurrency funds thus far.
