Cyber Hornet ETF LLC has filed with the U.S. Securities and Exchange Commission (SEC) to launch the S&P Crypto 10 ETF (CTX), a move that could introduce the first U.S. exchange-traded fund directly tied to the S&P Crypto 10 Index. The filing, structured as an S-1 registration, was disclosed by Bloomberg senior ETF analyst Eric Balchunas.
The proposed ETF is designed to hold the underlying spot cryptocurrencies, rather than futures contracts, and would automatically rebalance to track the index. This structure offers investors direct exposure to a basket of digital assets without the need to manage personal wallets or crypto exchanges.
The S&P Crypto 10 Index is weighted by market capitalization, resulting in a portfolio heavily dominated by Bitcoin (BTC) and Ethereum (ETH). According to the filing, the index allocation is 69% Bitcoin and 14% Ethereum. The remaining 17% is distributed among eight other major altcoins: XRP (5%), Binance Coin (BNB) (4%), Solana (SOL) (2%), TRON (TRX) (1%), Cardano (ADA) (0.5%), Bitcoin Cash (BCH) (0.4%), Chainlink (LINK) (0.3%), and Stellar (XLM) (0.2%).
Balchunas noted that this filing signals the "race for crypto basket ETF supremacy is just heating up," indicating intensifying competition among issuers for diversified spot-exposure products. The move follows the earlier regulatory approvals for single-asset spot Bitcoin and spot Ethereum ETFs, which have collectively amassed billions in assets under management, with BlackRock's iShares Bitcoin Trust (IBIT) leading the space.
It is important to note that the SEC has not yet approved this ETF, and no trading launch date has been announced. Cyber Hornet, incorporated in Delaware, already offers other ETFs that combine S&P 500 exposure with crypto futures, but the S&P Crypto 10 ETF would be its first fully crypto-based basket product.
