Hashdex Launches New Spot Bitcoin ETF in the US

Hashdex, a prominent asset manager, is set to debut its Hashdex Bitcoin ETF in the US market, marking its entry into the competitive spot Bitcoin ETF landscape. This move comes after the successful conversion of its futures ETF to hold spot Bitcoin. The ETF will trade under the ticker "DEFI."

Renaming and Conversion:

The renaming of the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF, or DEFI, signifies the completion of the fund's strategy conversion. DEFI will now primarily invest at least 95% of its assets into spot Bitcoin, with the remaining 5% allocated to CME-traded Bitcoin futures contracts, cash, and cash equivalents. The new investment strategy will be effective March 27, 2024.

Inviting Investors:

Marcelo Sampaio, co-founder and CEO of Hashdex, expressed the firm's long-standing belief in Bitcoin as a generational opportunity. Samir Kerbage, Hashdex's chief investment officer, extended an invitation to investors of all backgrounds to join the journey of making digital assets more accessible.

Different Approach:

Unlike other ETFs that rely on a Coinbase surveillance sharing agreement, Hashdex's fund acquires spot Bitcoin from physical exchanges within the CME market. This approach sets Hashdex apart and underscores its commitment to innovation in the digital asset space.

Late Entry, Strong Potential:

While Hashdex may be entering the market later than some competitors, its strong investment thesis and unique approach could position it as a significant player in the spot Bitcoin ETF market. Data from Farside Investors indicates that the spot Bitcoin ETF cumulative inflow, excluding Grayscale’s ETF, is substantial, highlighting the growing interest in digital assets among investors.