Hashdex Seeks to Add Solana, XRP and Cardano to Index ETF Holding Bitcoin and Ethereum

Hasdex has asked the U.S. Securities and Exchange Commission to approve an amendment that would allow the digital asset manager to add XRP, Solana, Cardano and other major altcoins to its Hashdex Nasdaq Crypto Index US ETF (NCIQ), according to a filing with the regulator Monday.

The fund, which currently focuses primarily on Bitcoin and tracks a smaller percentage of Ethereum, would also include Chainlink, Uniswap, Litecoin, and Avalanche.

The filing comes as issuers have aimed to add coverage of altcoins in their crypto-tracking exchange-traded funds. In recent months, fund managers have proposed new investment offerings directly tracking the prices of a variety of cryptocurrencies, from Dogecoin to XRP, Solana, and even Donald Trump’s official meme coin.

On Monday, Canary Capital applied for an ETF based on SUI, the native token of the layer-1 Sui blockchain.

Decrypt reached out to Hashdex for comment on the filing.

NCIQ, which debuted on Feb. 14, manages about $66 million in assets, according to data from ETF.com. The Brazil-based Hashdex received SEC approval for the fund in December. A different version of the fund that covers Bitcoin and nine other altcoins currently trades on the Bermuda Stock Exchange.

Demand for crypto funds has mushroomed over the past 14 months after the wildly successful launch of ETFs tracking Bitcoin. The 11 Bitcoin funds currently trading now colletively manage about $100 billion in assets.

Ethereum-focused funds have drawn less interest but still managed to generate about $2.5 billion in net inflows, according to data from UK assert manager Farside Investors.

Edited by Andrew Hayward