Hashdex files with SEC to add XRP, ADA, SOL, and other coins to its Crypto Index ETF

Key Takeaways

Nasdaq’s crypto ETF launched with $70 million in belongings, primarily monitoring Bitcoin and Ethereum.
The ETF fees a 0.25% annual administration payment, growing to 0.50% after 2025.

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Hashdex, a distinguished participant within the crypto ETF sector, is in search of approval from the SEC to increase its Nasdaq Crypto Index US ETF to embody XRP, Solana (SOL), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI), in accordance to a latest modification submitted to the securities regulator.

The ETF, buying and selling beneath the ticker NCIQ, formally launched on February 13 after securing approval from the SEC. The fund can be the primary twin Bitcoin-Ethereum ETF within the US.

The ETF fees a administration payment of 0.25% yearly by way of December 31, 2025, after which it’ll enhance to 0.5%. Coinbase Custody and BitGo Trust function crypto asset custodians for the fund.

Currently, the ETF holds roughly 88% of Bitcoin and roughly 12% of Ethereum and has roughly $70 million in complete internet belongings.

In an announcement upon the ETF launch, Hashdex mentioned that crypto belongings should meet a number of standards to be eligible for inclusion within the index, together with buying and selling on at the least two core crypto platforms, having custodial help, sustaining minimal buying and selling volumes, and being listed on a US-regulated crypto asset buying and selling platform or derivatives platform.

The submitting detailed the evaluation of the highest 15 crypto belongings by market capitalization as of October 23, 2024, towards 5 “NCI Criteria.” Only BTC, ETH, AVA, LINK, and LTC met all standards on the time.

Hashdex additionally famous that new crypto belongings will solely be thought of for inclusion in the event that they meet the predetermined “eligibility criteria” outlined of their submitting.

The proposal got here lower than a month after Hashdex obtained approval from the Brazilian Securities and Exchange Commission (CVM) to launch the world’s first spot XRP ETF, the Hashdex NASDAQ XRP Index Fund.

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