Hashdex Seeks SEC Permission To Add Ripple’s XRP, Cardano, And Solana To Its Crypto ETF Index
Brazil-based asset manager Hashdex has amended its S-1 regulatory filing with the U.S. Securities and Exchange Commission to expand its crypto index ETF with seven additional altcoins, including XRP, Solana,...
Brazil-based asset manager Hashdex has amended its S-1 regulatory filing with the U.S. Securities and Exchange Commission to expand its crypto index ETF with seven additional altcoins, including XRP, Solana, and Cardano.
The submission comes three months after Hashdex’s fund, which currently holds only Bitcoin and Ethereum on a market cap-weighted basis, first won SEC approval.
Hashdex Combo ETF Eyes XRP, SOL, And ADA
Hashdex, a prominent player in the crypto ETF sector, has asked the SEC to add a slew of altcoins to its crypto index ETF.
According to a filing with the regulator on Monday, the Nasdaq Crypto Index US ETF would also include Solana (SOL), Ripple’s XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI). As of March 18, the fund holds roughly 88% of BTC and approximately 12% of ETH and has a total of $70.4 million in net assets.
The filing notes that the proposed altcoins additions are “decentralized peer-to-peer computer systems that rely on public key cryptography for security, and their values are primarily influenced by market supply and demand.”
Advertisement
It should be noted that the new tokens will be weighed based on their free float market caps. Hashdex also indicated that new crypto assets will only be considered for inclusion if they meet the predetermined “eligibility criteria” highlighted in their filing.
Hashdex secured SEC approval for the index ETF in December. If cleared, the fund could offer US investors an alternative to single-asset cryptocurrency ETFs, diversifying exposure within a highly regulated and secure framework. Notably, an expanded version of the fund that covers Bitcoin and nine other altcoins is already trading on the Bermuda Stock Exchange.
Regulatory Outlook
Hashdex’s updated filing shows how asset managers are moving forward with planned crypto product launches now that US President Donald Trump has promised to relax regulatory enforcement against the crypto industry, which has sparked a flurry of crypto ETF applications amid optimism that the SEC under his administration will move to approve them.
In recent months, would-be issuers have proposed new investment vehicles directly tracking the prices of several cryptocurrencies, from Dogecoin to XRP, Solana, and even Donald Trump’s official Solana-based meme coin, $TRUMP.
On Monday, Canary Capital submitted paperwork with the SEC for an ETF based on SUI, the native token of the layer-1 Sui blockchain.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
