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.
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.
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.
Regulatory changes could work in Hashdex’s favor. President Donald Trump
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.
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.
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.
The Hashdex Nasdaq Crypto Index ETF is a crypto fund tracking Bitcoin and Ethereum, now seeking SEC approval to add seven major altcoins.
Yes, Hashdex is a reputable asset manager known for launching crypto ETFs, complying with regulations, and providing secure investment options.
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