NASDAQ Proposes A Unique Ethereum ETF
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NASDAQ Proposes A Unique Ethereum ETF

FinanceEthereum ETFEthereum

By Miles

13 Sep 2023

2 min read


NASDAQ plans a unique Ethereum ETF with both futures and real tokens. This move might impact other big crypto players like Coinbase.

NASDAQ plans to have a new Ethereum investment, called an ETF, different from others. They've applied to the US agency, the SEC, to list this new ETF. This plan comes from a company named Hashdex.

What's special is that this ETF will have both Ether futures (a kind of contract) and actual Ethereum. Usually, companies only choose one. Hashdex believes mixing them can lower risks. This new product would let US investors buy Ethereum in a secure way. They won't need to use other riskier methods or overseas products.

NASDAQ said it will use the Chicago Mercantile Exchange (CME) to check Ethereum's price. They think CME is big and trusted. The plan also includes having real Ethereum tokens. But Hashdex will only buy these from safe places, not from risky ones.

This is similar to another Hashdex idea about Bitcoin. They used the same method there too.

However, there's some drama. In their application, NASDAQ talked about "unregulated spot exchanges" many times. This might be pointing at Coinbase. Some other big names, like Ark Invest, want to use Coinbase for their Ethereum ETFs. So, calling Coinbase "unregulated" might make things harder for them with the SEC.

This could also affect how the SEC sees other applications, especially if they involve Coinbase. Everyone's watching to see how this will change the crypto world.

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