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Hashdex to begin trading its spot Bitcoin ETF with ticker ‘DEFI’
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2024-03-27 08:03:47
Felix Ng43 minutes agoHashdex to begin trading its spot Bitcoin ETF with ticker ‘DEFI’Hashdex will be the 11th entrant to a competitive spot Bitcoin ETF race in the U.S. dominated by BlackRock and Fidelity.312 Total viewsListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksAsset manager Hashdex is officially joining the spot Bitcoin (BTC) exchange-traded fund (ETF) market in the United States after completing the conversion of its futures ETF to hold spot Bitcoin.
In a March 26 announcement, Hashdex said it has renamed and converted its Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF with the ticker “DEFI.”
“DEFI’s renaming corresponds to DEFI’s completion of the conversion of its investment strategy to allow the Fund to provide spot Bitcoin holdings and its tracking of a new benchmark index effective March 27, 2024,” it said. $DEFI finally and officially makes it to the starting gate. Spot Bitcoin ETF #11. The getting is so good right now i could see this one getting some bites (if the fee is competitive) despite being so late. https://t.co/iEZL5fSiGT— Eric Balchunas (@EricBalchunas) March 26, 2024
The newly converted fund will invest at least 95% of its assets into spot Bitcoin, while up to 5% of the remaining assets will go into CME-traded Bitcoin futures contracts and in cash and cash equivalents, according to the firm.
“Since our founding in 2018, Hashdex has strongly believed that bitcoin is a generational opportunity," said Hashdex co-founder and CEO Marcelo Sampaio.
“We’re excited to invite all investors - whether it be those who already have full conviction in Bitcoin, those who are considering an allocation for the first time, or anyone in between - to join us in our long-term journey of making digital assets accessible,” added Samir Kerbage, Hashdex"s chief investment officer.# Bitcoin# ETFAdd reactionAdd reactionRead moreHong Kong’s in-kind ETF creation could be a significant market opportunity: AnalystsBitcoin ETFs see $15M comeback as BTC price taps best close in 10 days2 theories why GBTC sticks to high fees despite bleeding billions