Hashdex, a global crypto-focused asset manager, announced Wednesday that it will waive all fees for its Hashdex Nasdaq Crypto Index Europe (HASH) fund until it reaches $1 billion in net asset value.
The news comes as Hashdex pushes to offer a first-of-its-kind joint Exchange Traded Fund (ETF) in the U.S. that will hold both Bitcoin and Ethereum.
Its HASH fund—an Exchange Traded Product (ETP)—is the second largest crypto index ETP in Europe, with over $100 million in net asset value. HASH is currently listed on the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Paris, and Euronext Amsterdam.
“Hashdex believes that participating in the long-term promise of crypto is best fulfilled by gaining exposure to multiple digital assets through a best-in-class index,” Marcelo Sampaio, Hashdex co-founder and CEO, said in a press release. “We see a tremendous opportunity to invite more European investors into the crypto ecosystem with this fee waiver.”
Calling it an “extraordinary incentive,” Sampaio said the move will encourage investors to hold assets across the crypto ecosystem.
Bitcoin and Ethereum Joint ETF Could Come to US via Hashdex
We have spot Bitcoin ETFs trading in the United States, while Ethereum ETFs have been approved and should hit the market soon. What’s next? Possibly a joint ETF that includes both of the leading cryptocurrencies by market cap—if Hashdex has its way. In a move potentially marking another significant step forward for crypto investment in the States, the crypto asset manager has filed an application for the Hashdex Nasdaq Crypto Index US ETF. If approved, it would be the first exchange-traded fund...
The Hashdex Nasdaq Crypto Index (NCI), developed in collaboration with Nasdaq, has quickly established itself as a leading index for crypto ETFs and ETPs globally, the company said.
Hashdex's proposed joint Bitcoin and Ethereum ETF, if approved, would track the NCI and include cash holdings along with crypto. Coinbase Custody and BitGo would be its designated custodians.
The NCI is a market-capitalisation-weighted index, meaning the fund would primarily hold Bitcoin (70.54%) and Ethereum (29.46%), mirroring the relative weightings of these two dominant cryptocurrencies.
Hashdex began offering a Bitcoin spot ETF in April. While it withdrew its application to offer an Ethereum spot ETF last month, it remains a significant player in a year of milestones for crypto funds in the U.S.
Edited by Ryan Ozawa.
