Nasdaq exchange announced that Brazilian asset manager Hashdex has purchased Ethereum ( ETH) filed with the SEC to list its ETF.
The ETF issue, which is of critical importance for the crypto industry, has come to the fore again with Nasdaq’s new move. Nasdaq, Brazilian asset manager Hashdex offers Ethereum in spot and futures trading ETFto the Securities and Exchange Commission to list SEC) applied.
Hashdex announces ETF-led plans
The fund, called Hashdex Nasdaq Ethereum ETF, is managed and controlled by Toroso Investments, which is registered with the Commodity Futures Trading Commission as a commodity pool operator and is a member of the National Futures Association.
Whether the proposed crypto ETF will be held in futures contracts or spot funds was the main topic of the final application process. The SEC approved the first application but not the next. Fund managers are now resorting to different methods.
The Hashdex fund states its investment objective is for its shares to reflect daily changes in the price of the Nasdaq Ether Reference Price. Additionally, investing in Ethereum futures contracts, cash and cash equivalents listed on CME is among the company’s plans.
Nasdaq, in form 19b-4, “Instead of holding 100 percent spot ETH, which could become more susceptible to price manipulation in the spot market, the fund will hold a mix of spot ETH, ETH Futures Contracts and cash.”said .
