# Application Filed for Combined BTC & ETH ETF

*Author: Jack Inabinet*
*Published: Jun 18, 2024*
*Source: https://www.bankless.com/de/application-filed-for-dual-btc-x-eth-etf*

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American investors may soon gain one-click access to a diversified crypto portfolio on traditional financial rails!

### What’s the scoop?
- **BTCxETH ETF: **Crypto asset manager Hashdex has filed with the Securities and Exchange Commission (SEC) to launch a spot crypto ETF that holds BTC and ETH (and small amounts of cash) in market cap weighted proportions.
- **Room for More:** While the proposed Hashdex instrument will only provide BTC and ETH exposure at launch, other digitally native assets that receive SEC clarity as non-securities – likely via approval of their own spot ETFs – can be subsequently added.
- **Dual Custodians:** Many crypto ETFs only custody assets with one party, but Hasdex will implement a dual custody model for its ETF; storing investor assets with Coinbase and BitGo mitigates the risk of a total loss of investor funds.
- **Contingent Approval:** Spot ETH ETFs are [expected](https://www.bankless.com/gary-gensler-still-wont-say-eth-is-a-commodity) with near certainty to receive final approval sometime this summer, however, it remains important to note that this Hashdex ETF will not receive approval if ETH ETFs are unexpectedly denied.

### Bankless Take:
Passive stock indexes like the S&P 500 provide investors with the benefit of effortless diversification, often resulting in superior returns and dampened volatility in comparison to holding single stocks.

Although it is unlikely a meaningful percentage of current crypto investors will prefer to hold a market cap weighted combination of BTC and ETH instead of individually allocating to each asset, this Hashdex product could experience significant adoption when additional digital assets receive clarity as non-securities and new industry entrants follow seeking out easy ways to construct diversified crypto portfolios.

> Update: A dual Ethereum and [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) ETF filing from [@hashdex](https://twitter.com/hashdex?ref_src=twsrc%5Etfw) just dropped. Will be market cap weighted. Shouldn't be a surprise to anyone -- makes a lot of sense. Final deadline for SEC approval should be sometime around the first week of March 2025 [pic.twitter.com/5wB7ucvbgM](https://t.co/5wB7ucvbgM)— James Seyffart (@JSeyff) [June 18, 2024](https://twitter.com/JSeyff/status/1803084483995820443?ref_src=twsrc%5Etfw)