The Hashdex fund’s investment objective is to have its shares reflect daily changes in the price of the Nasdaq Ether Reference Price.
Called the Hashdex Nasdaq Ethereum ETF, the fund is managed and controlled by Toroso Investments, which is registered as a commodity pool operator with the Commodity Futures Trading Commission and member of the the NationalA focus on whether a proposed crypto ETF plans to hold futures contracts or spot funds has taken center stage in the latest wave of applications, with the SEC having approved the former, but not the later.
The Hashdex fund's investment objective is to have its shares reflect daily changes in the price of the Nasdaq Ether Reference Price, and it plans to invest in ether, ether futures contracts listed on the CME, cash and cash equivalents. "Instead of holding 100% spot Ether, which could make it more susceptible to price manipulation in the spot market, the Fund will hold a mix of Spot Ether, Ether Futures Contracts, and cash," Nasdaq said in the"By holding Ether Futures Contracts and cash in addition to Spot Ether, the Fund reduces its dependence on the spot market, thereby mitigating concerns about potential manipulation in unregulated Ether spot exchanges," it continued.
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