Hashdex amends S-1 filing for crypto index ETF to add 7 altcoins – including SOL and XRP

Asset manager Hashdex has amended its S-1 regulatory filing to expand its crypto index exchange-traded fund (ETF), proposing the addition of seven altcoins alongside Bitcoin (BTC) and Ethereum (ETH), according to a March 14 filing submitted to the Securities and Exchange Commission (SEC).

The revised filing seeks to include Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI) in the Hashdex Nasdaq Crypto Index US ETF.

The fund, launched in February 2024, currently holds only Bitcoin and Ethereum and follows the Nasdaq Crypto US Index, which exclusively tracks the two largest cryptocurrencies by market capitalization.

The filing outlines a planned shift to the broader Nasdaq Crypto Index (NCI), which includes a wider selection of digital assets beyond BTC and ETH.

Hashdex has not provided a specific timeline for the transition, and the SEC must approve the proposed changes before they take effect.

Growing altcoin interest

Previous iterations of Hashdex’s S-1 hinted at the possibility of expanding the ETF’s asset mix, but this marks the first time specific altcoins have been named.

The filing describes the selected assets as decentralized networks that rely on public key cryptography for security, with values primarily influenced by market supply and demand conditions.

While these ETFs saw modest inflows initially, they represent the first US funds designed to provide diversified crypto exposure. Industry analysts have pointed to crypto index ETFs as the next step in expanding investment access following the approval of spot Bitcoin ETFs in January 2024.

Other asset managers, including Grayscale, have also moved to broaden their ETF offerings. Grayscale has applied to convert its Digital Large Cap Fund, which holds BTC, ETH, SOL, and XRP, into an ETF, a move that would introduce another multi-asset fund to the market.

Regulatory outlook

The SEC has acknowledged more than a dozen ETF filings related to cryptocurrencies this year, including proposals for staking features, in-kind redemptions, and expanded altcoin-based funds.

However, the timeline for approvals remains uncertain as regulators continue evaluating potential risks associated with broader crypto market exposure.

Hashdex’s proposed expansion reflects the growing demand for more comprehensive crypto investment products, but final approval will depend on regulatory assessments.

If cleared, the fund could offer US investors an alternative to single-asset crypto ETFs, diversifying exposure within a regulated framework.

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