– The Nasdaq stock exchange has applied to the SEC to list an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex.
– The ETF, known as the Hashdex Nasdaq Ethereum ETF, will include a combination of spot ether holdings and futures contracts in its portfolio.
– This ETF is the first filing for futures and spot Ether holdings under the ’33 Act and is overseen by Toroso Investments.
– The primary investment 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 and address concerns about potential manipulation by including Ether Futures Contracts and cash in its holdings.
– Hashdex is also competing for a spot Bitcoin ETF, but its approach differs from recent filings as it won’t depend on the Coinbase surveillance sharing agreement.
– The SEC has deferred its determinations on all applications for spot cryptocurrency funds so far.