This week, spot Ethereum ETFs were successfully launched in the US. While this was a historic feat by itself, several other ETF-related developments were brushed under the rug. So, in this article, we will delve into everything else that happened within the ETF arena.
Hashdex files S-1 for its 2-in-1 BTC x ETH ETF
Digital asset manager Hashdex filed its S1 registration statement with the US Securities and Exchange Commission [SEC] to launch an ETF that will directly own spot BTC and Ether combined. The firm has also left the door open to add other assets going forward if it gets the regulatory nod. It clarified in the filing,
"If any crypto asset other than Bitcoin and Ether becomes eligible for inclusion in the Index, the Sponsor will transition to a sample replication strategy, with only Bitcoin and Ether in the same proportions determined by the Index."
The fund, called the Hashdex Nasdaq Crypto Index US ETF, will be listed and traded on Nasdaq. Meanwhile, Coinbase Custody and BitGo will assume the role of custodians.
Franklin Templeton and SBI gearing up to launch BTC ETFs in Japan
Japan-based finserv group SBI Holdings is looking to tie up with US investing giant Franklin Templeton to create a crypto asset management company this year. Together, they will bring Bitcoin ETFs to Japan.
The joint venture also intends to offer digital asset securities to its clients. As far as the share and ownership stake is concerned, a recent report pointed out,
"SBI will hold a 51% stake in the new company, with Franklin Templeton owning the rest."
The launch of the crypto funds will take place as soon as the new company garners a go-ahead from Japan’s Financial Services Agency [FSA] .
Nomura’s crypto unit to launch “higher-yielding alternative” to Ether ETFs with Dinero, Galaxy
Ether ETFs launched in the US this week had one missing block - staking. To bridge the gap, Nomura Holding’s crypto unit is looking to offer a “higher yielding alternative.”
Laser Digital is eying a September launch in association with Galaxy Digital and Dinero.
The latter will cater to the software technology that helps generate yields. The former, on the other hand, is wrapping up a deal to become the sole validator.
Commenting on the nature of the fund, Sebastien Guglietta, Head of Asset Management at Laser Digital said,
“The question you’re facing is that do you want to be exposed only to beta, or do you want to be exposed to beta plus carry. You know, it is not that a product is better than another one, it’s not that a solution is better than another one, it’s just a question about what do you want in your portfolio.”
Accredited investors — including hedge funds and private investment offices — will have access to the fund. Meanwhile, retail buyers will not be a part of the equation. Alongside, it should be noted that US investors will not be able to access the fund right off the bat after launch.
