Hashdex ETF Files for Multi-Asset Inclusion: 7 Altcoins Named

Bitcoin, the leading cryptocurrency, hit a wall at $84,000 early Tuesday, failing to push higher and leaving traders frustrated. Meanwhile, major altcoins like Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) took a hit, slipping into the red. With the Market Fear & Greed Index stuck at 25 (Fear), uncertainty is running high.

Investors are keeping a close eye on ETFs, hoping they could inject fresh momentum. Things could be getting interesting very soon. Here’s what you should know.

ETF Optimism Grows Despite Market Dip

Despite the downturn, investors remain hopeful about ETFs, expecting fresh investments that could help the market recover. In a key development, asset manager Hashdex has filed an amendment with the U.S. Securities and Exchange Commission (SEC) to expand its cryptocurrency index ETF.

The updated proposal aims to include seven more altcoins—Solana (SOL), XRP, Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI) – alongside Bitcoin (BTC) and Ethereum (ETH). This is the largest expansion proposal so far and brings renewed optimism to the struggling altcoin market.

Hashdex Expands Its Crypto ETF

Launched in February 2024, the Hashdex Nasdaq Crypto Index US ETF currently tracks only Bitcoin and Ethereum. This latest filing suggests a move toward a more diversified investment approach, aligning with the Nasdaq Crypto Index (NCI), which includes multiple digital assets instead of just the two biggest cryptocurrencies.

This update is significant because, until now, previous ETF filings hinted at expansion but never specified which altcoins would be included. However, Hashdex has not yet provided a timeline for these changes, as they still require SEC approval.

Trump’s Crypto-Friendly Policies May Speed Up Approvals

Regulatory changes could work in Hashdex’s favor. President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President recently directed federal agencies to take a more relaxed approach to digital assets, potentially making it easier for crypto ETFs to gain approval.

Industry experts believe multi-asset ETFs could be a big step toward making crypto more accessible to mainstream investors. Nate Geraci, president of ETF Store, sees this as a major development, as it could allow firms to introduce multiple share classes within a single ETF—making investment options more efficient and flexible.

More Crypto ETFs in the Works

Hashdex isn’t the only company expanding its crypto ETF offerings. Grayscale has proposed converting its Digital Large Cap Fund—comprising BTC, ETH, SOL, and XRP—into an ETF. If approved, this would bring another diversified crypto investment option to the market.

The SEC is currently reviewing several crypto ETF proposals, including those featuring staking mechanisms and in-kind redemptions. However, the regulatory outlook remains uncertain as officials continue evaluating potential risks.

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A New Era for Crypto Investing?

If approved, Hashdex’s expanded ETF would give U.S. investors a regulated way to invest in multiple cryptocurrencies through a single fund. This could reduce reliance on single-asset ETFs and create new opportunities in the digital asset market—potentially marking a new phase in crypto investing.

One thing is certain – crypto’s path to mainstream adoption is becoming clearer by the day.

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