In a recent filing, Nasdaq unveiled a proposal for a new rule aimed at facilitating the listing and trading of investment products linked to digital assets. This new regulation, known as Nasdaq Rule 5712, would allow companies to list securities that are backed by digital assets.
The rule would cover a wide range of financial instruments, including securities from firms that hold digital assets, as well as investments based on cash, derivatives, and other related assets. Additionally, the proposal suggests transferring the Hashdex Nasdaq Crypto Index US ETF to this new category from its current listing status.
The filing highlights that the rule change is designed to amend the investment objectives and strategies previously outlined for the Hashdex Nasdaq Crypto Index US ETF. This ETF, managed by cryptocurrency investment firm Hashdex, primarily holds Bitcoin and Ether, though it may also invest in other digital assets in accordance with U.S. cryptocurrency regulations, as detailed in its July 2024 registration statement.
The proposal is expected to have significant implications for the cryptocurrency investment space, particularly in providing clearer guidelines for investment products tied to digital assets.
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