Cryptex Finance has filed a sixth pre-effective S-1/A for its BAGZ fund, a spot multi-token fund that includes XRP and aims to list on Nasdaq. The fund tracks 24 tokens, stakes some of them and holds the sponsor's own token, a conflict of interest the prospectus discloses.
Cryptex Finance submitted its sixth pre-effective amendment, Form S-1/A, to the U.S. Securities and Exchange Commission for the Cryptex BAGZ ETF, a spot multi-token digital asset fund that aims to list on the Nasdaq Stock Market. The filing is dated October 23, 2026. It updates the fund's index methodology, custody disclosures and staking framework.
BAGZ tracks 24 tokens across five tiers
Unlike single-asset spot funds, the BAGZ ETF tracks 24 constituent tokens drawn from a broader 36-asset index. Major coins, BTC, ETH, SOL, XRP and ADA, take up no more than 51.7% of the total index weight.
Several rules limit concentration. No single asset may exceed 30% of total index weight, and no constituent may take more than 50% of its tier's allocation. Assets that fall below a 0.15% portfolio floor leave the fund at the quarterly rebalance in January, April, July and October.
Sponsor token carries a fixed 2.0% weight
The index also includes CTX, the sponsor's own governance token, at a fixed 2.0% index weight with a 6.5% fund-level minimum floor. The prospectus acknowledges this as a conflict of interest.
The fund also plans to use staking. Proof-of-stake assets ETH, SOL, ADA and HYPE represent 26.82% of portfolio crypto assets. The fund intends to stake these holdings in custody, capped at 33.0% of total portfolio assets, with the yield credited back to fund NAV.
Structure and custody
The fund is structured as a Cayman Islands limited liability company, with BitGo Bank & Trust as digital-asset custodian and U.S. Bancorp Fund Services handling transfers and cash custody. Exchange Traded Concepts acts as co-sponsor. Authorised Participants handle creations and redemptions in baskets of 10,000 shares.
Daily holdings are published on the sponsor's website, and NAV is struck using Coinbase prices at 4:00 p.m. ET.
The fund remains pre-effective, and seed capital and the launch date are still blank in the filing. CoinGape names a further S-1/A revision or an SEC order of effectiveness as the next milestone to watch.
Source: CoinGape
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