Asset management company HashDex has filed amendments with the U.S. Securities and Exchange Commission to include Litecoin in the Hashdex Nasdaq Crypto Index US ETF.
The Hashdex Nasdaq Crypto Index US ETF aims to grasp the overall trends in the crypto market by providing diverse exposures to a variety of digital assets.
By adding Litecoin (LTC), HashDex expands the asset base of ETFs, improves diversification and makes it more attractive to investors interested in the cryptocurrency sector.
Exchange Funds are investment funds that hold a collection of assets such as stocks, bonds, and cryptocurrencies. ETFS trades on stock exchanges, allowing investors to buy and sell shares throughout the trading day, just like individual stocks.
This structure provides diversification as investors are exposed to multiple assets within a single investment.
HashDex recently received approval from the Brazilian Securities and Exchange Commission to launch the world's first XRP (XRP) Spot ETF on the B3 Stock Exchange.
The decision comes as several US publishers, including Grayscale and WisdomTree, were awaiting SEC approval for similar products.
Created in 2011, Litecoin is a peer-to-peer cryptocurrency that allows anyone in the world to pay close to zero. It works on open source decentralized payment networks without a central authority.
