Asset manager Hashdex has updated its S-1 regulatory submission for its cryptocurrency index exchange-traded fund (ETF), incorporating seven altcoins alongside Bitcoin (BTC) and Ether (ETH), as revealed in a filing dated March 14.
This amendment suggests the inclusion of seven specific altcoins to the index ETF: Solana (SOL), XRP (XRP), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI). Currently, as of March 17, the Hashdex Nasdaq Crypto Index US ETF consists solely of Bitcoin and Ether.
Earlier iterations of Hashdex’s S-1 indicated the potential for future cryptocurrency additions, although they did not outline which coins would be included.
The filing states that the proposed altcoins are “decentralized peer-to-peer computer systems that utilize public key cryptography for security, with their values largely determined by market supply and demand.”
This updated submission highlights a trend among ETF providers accelerating their crypto product launches, particularly following US President Donald Trump’s directive for a more relaxed regulatory approach to digital assets.
As part of this change, the ETF intends to shift its reference index from the Nasdaq Crypto US Index—which tracks only BTC and ETH—to the broader Nasdaq Crypto Index, according to the filing.
The asset manager did not indicate a specific timeline for this transition. The US Securities and Exchange Commission (SEC) must approve the proposed modifications before they can be implemented.
Hashdex plans to add seven altcoins to its index ETF.
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Speeding Up Approvals
In December, the SEC approved both Hashdex and Franklin Templeton’s respective Bitcoin and Ether index ETFs.
These ETFs were launched in February, initially experiencing modest inflows, as per data reports. They represent the first US ETFs designed to provide investors with a diversified crypto index in one package.
Grayscale has also submitted an application to convert its Grayscale Digital Large Cap Fund into an ETF. Established in 2018, this fund includes a portfolio of cryptocurrencies such as BTC, ETH, SOL, and XRP, among others.
Industry experts suggest that crypto index ETFs are becoming the next major focus for issuers, following the introduction of ETFs holding BTC and ETH in January and July of the previous year.
“The natural progression is towards index ETFs as they offer an efficient solution for investors—similar to buying the S&P 500 in an ETF format. This will be applicable to the crypto space as well,” stated Katalin Tischhauser, head of investment research at crypto bank Sygnum, in an August interview.
In February, the SEC acknowledged over a dozen exchange filings related to cryptocurrency ETFs, according to available records.
These filings, submitted by Cboe and other exchanges, addressed proposed rule changes involving staking, options, in-kind redemptions, and new altcoin fund types.
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