Investing in Web 3.0
The Nasdaq stock exchange has filed a petition to the Securities and Exchange Commission (SEC) to get authorization to list a Hashdex Ethereum Exchange-Traded Fund (ETF). This ETF includes both spot ether holdings and futures contracts, introducing a new way to invest in cryptocurrency within the regulatory framework.
The Hashdex Nasdaq Ethereum ETF, overseen and supervised by Toroso Investments, is the first ’33 Act Ethereum futures filing of futures Ethereum under the ‘33 Act. Toroso Investments is registered as a commodity pool operator with the Commodity Futures Trading Commission (CFTC) and is also a member of the National Futures Association.
The recent surge in cryptocurrency ETF applications has raised the question of whether the proposed funds will include futures contracts or spot assets. The SEC has approved the former, but the latter remains unauthorized. Fund managers are exploring a middle-ground option, testing their luck in this regulatory landscape.
The main goal of the Hashdex fund is to make sure its shares match the day-to-day fluctuations in the Nasdaq Ether Reference Price. To achieve this, the fund plans to allocate its assets to investments in ether, ether futures contracts traded on the CME, as well as cash and cash equivalents. Nasdaq said in the 19b-4 form:
The introduction of the Hashdex Nasdaq Ethereum ETF has opened up new possibilities for investors looking to invest in Web 3.0. The Hashdex ETF is a great opportunity for those interested in c3.ai stock, investing in cryptocurrency web 3.0, or any other web 3.0 applications. Apple Health is a great example of a web 3.0 application, and Coinbase is another great platform for investing in Web 3.0. With the history of web 1.0, 2.0, and 3.0, and the current investment options, investors now have more ways to invest in Web 3.0.
Cryptocurrency Web 3.0
The Fund is looking to decrease its reliance on the spot market and address any worries regarding potential manipulation in unregulated Ether spot exchanges by including Ether Futures Contracts and cash in its holdings, it elaborated.
Hashdex has also joined the competition for a spot Bitcoin (BTC) exchange-traded fund in the United States. However, its approach differs from other filings as it won’t depend on the Coinbase surveillance sharing agreement, opting to acquire spot Bitcoin from physical exchanges within the CME market.
In the past week, both Ark Invest and 21Shares submitted applications to the SEC for a spot ether ETF, a type of ETF also being pursued by VanEck. The SEC has yet to make a decision on all the applications it has received for spot cryptocurrency funds.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space regarding how to invest in web 3.0, examples of web 3.0 applications, and the history of web 1.0, 2.0, and 3.0.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments