Revolution in the cryptocurrency market: Hashdex asks the SEC to approve ETFs for six altcoins!

Revolution in the cryptocurrency market: Hashdex asks the SEC to approve ETFs for six altcoins!

The world of cryptocurrencies is experiencing an exciting period that brings news and opportunities for investors. Hashdex, known as the founder of the world's first XRP ETF, has taken a major step in its strategy by filing an application with the Securities and Exchange Commission (SEC) for approval of six altcoins. Among them are popular cryptocurrencies like Solana (SOL), Avalanche (AVAX), and others.

Following the recent SEC approval of bitcoin and ethereum ETFs, the race for altcoin ETFs is heating up in the market. At the moment, ETF applications for many altcoins, including XRP, Litecoin (LTC), and Solana, are awaiting the SEC's decision. However, Hashdex is coming up with a new initiative that has the potential to change the rules of the game.

Hashdex has decided to ask the SEC for permission to expand its Nasdaq Crypto Index US (NCIQ) ETF, which currently only includes Bitcoin and Ethereum. The newly proposed portfolio would include six altcoins: Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC) and Uniswap (UNI).

This ETF, which launched on February 13, 2023, trades on the Nasdaq exchange under the ticker NCIQ. While it already invests in Bitcoin and Ethereum, it has the advantage of being the first dual-asset ETF in the U.S. The current total assets of the Hashdex Bitcoin and Ethereum ETF are approximately $70 million, with 88% of that amount made up of Bitcoin and 12% Ethereum.

If the SEC approves Hashdex's application, it could mark a significant step forward for altcoin adoption and boost investor confidence in the cryptocurrency market. Anticipation and tension is growing, and investors are anxiously watching to see which way events will unfold. The main question is whether the SEC will open the door to more altcoin ETFs, which could bring a new wave of investment into this dynamic area.

*This is not an investment recommendation.

Coingarage Team