According to the filing, 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.”The revised filing signals how ETF issuers are accelerating planned crypto product rollouts now that US President Donald Trump has instructed federal regulators to take a more lenient stance on digital asset regulation. As part of the transition, the ETF plans to switch its reference index from the Nasdaq Crypto US Index — which only tracks BTC and ETH — to the more comprehensive Nasdaq Crypto Index, the filing said. The asset manager did not specify when it plans to make the change.
Asset manager Hashdex has amended its S-1 regulatory filing for its cryptocurrency index exchange-traded fund (ETF) to include seven altcoins in addition to Bitcoin (BTC) and Ether (ETH), according to a March 14 filing. The revision proposes adding seven specific altcoins to the index ETF — Solana (SOL), XRP (XRP), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI).
Asset manager Grayscale has also applied to convert its Grayscale Digital Large Cap Fund to an ETF. Created in 2018, the fund holds a crypto index portfolio comprising BTC, ETH, SOL and XRP, among others. Industry analysts say crypto index ETFs are the next big focus for issuers after ETFs holding BTC and ETH listed in January and July, respectively.“The next logical step is index ETFs because indices are efficient for investors — just like how people buy the S&P 500 in an ETF.
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Author / Journalist: Cointelegraph by Alex O’Donnell
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