Cyber Hornet Moves First? S&P Linked Crypto Basket ETF Filing Revealed

Cyber Hornet files for the S&P Crypto 10 ETF, a spot crypto basket with 69% Bitcoin exposure and allocations to ETH and XRP tokens.

Cyber Hornet has filed for a new crypto exchange traded fund that tracks an S&P digital asset index.

The filing has gained attention because it may become the first S&P linked spot crypto basket ETF in the United States.

The product aims to give investors broad exposure through a single regulated fund.

Cyber Hornet submits filing for S&P Crypto 10 ETF

Cyber Hornet filed registration documents with the U.S. Securities and Exchange Commission for the S&P Crypto 10 ETF, also called CTX.

The ETF is designed to track the S&P Cryptocurrency Broad Digital Asset index. It would hold spot crypto assets rather than futures-based instruments.

The index selects the top ten cryptocurrencies by market capitalization. The fund structure follows index weightings, which means larger assets receive higher allocations.

The filing states that Bitcoin and Ethereum will form the core of the portfolio.

Asset allocation reflects market size and dominance

Bloomberg ETF analyst Eric Balchunas addressed the filing in public commentary. He stated that the CTX product could be the first spot crypto basket linked to an S&P index.

He also said competition among issuers is increasing as firms pursue diversified crypto exposure.

The proposed ETF would allocate 69% of its holdings to Bitcoin. Ethereum would account for 14% of the portfolio, making it the second-largest holding.

XRP would follow with a 5% allocation based on current market value.

Other assets included in the basket are Binance Coin at 4% and Solana at 2%.

Smaller allocations are assigned to TRON at 1%, Cardano at 0.5%, Bitcoin Cash at 0.4%, Chainlink at 0.3%, and Stellar at 0.2%.

This allocation method mirrors the current structure of the crypto market. Bitcoin remains the largest digital asset by value, while Ethereum holds a distant second position.

Smaller networks receive limited exposure due to lower market capitalization.

Related Reading: Nasdaq Files Request With SEC to Lift Options Limits on Crypto ETFs

CTX filing enters a crowded spot ETF landscape

Spot crypto ETFs have gained interest because they hold actual digital assets. Their prices move closely with the underlying tokens.

This structure offers transparency and avoids the complexity of derivatives.

Bitcoin spot ETFs currently hold a large share of the total circulating supply. On chain data shows that these funds control more than 1.5 million BTC.

That amount represents a notable portion of available Bitcoin.

BlackRock’s iShares Bitcoin Trust leads the spot Bitcoin ETF market by assets. Fidelity and Grayscale also operate large funds, though flows have varied.

If approved, the CTX ETF would expand this market by offering multi-asset exposure through one product.

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