Nasdaq’s Latest ETF Filing: A Unique Blend of Spot Ether and Futures Contracts
Nasdaq has submitted an application to the SEC for an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex, marking a groundbreaking approach in the cryptocurrency investment landscape. The Hashdex Nasdaq Ethereum ETF is set to include both spot ether holdings and futures contracts within its portfolio.
Toroso Investments Takes the Helm
This innovative investment fund, the Hashdex Nasdaq Ethereum ETF, represents the first ’33 Act Ethereum futures filing and is under the supervision of Toroso Investments. Toroso Investments, registered as a commodity pool operator with the CFTC and a member of the National Futures Association, brings regulatory oversight to this unique ETF.
Balancing Risk and Reward
With a surge in cryptocurrency ETF applications, the Hashdex fund aims to find a middle ground by combining spot assets, ether futures contracts, and cash equivalents. This strategy is designed to reduce susceptibility to price manipulation in the spot market. The fund seeks to track the daily fluctuations in the Nasdaq Ether Reference Price.