Hashdex Transforms its Bitcoin Futures ETF into a Spot Bitcoin ETF with Ticker "DEFI
Summary:
Hashdex, an asset manager, has transformed its Hashdex Bitcoin Futures ETF into a spot Bitcoin ETF with the ticker "DEFI". This shift allows DEFI to provide spot Bitcoin holdings and track a new benchmark index. The revamped fund will reportedly invest at least 95% of its assets into spot Bitcoin, with the remainder slated for cash equivalents and CME-traded Bitcoin futures contracts.
After transitioning its futures ETF to hold spot Bitcoin, Hashdex is all set to step into the US spot Bitcoin (BTC) exchange-traded fund (ETF) market. On March 26, Hashdex shared that its Hashdex Bitcoin Futures ETF has been transformed and renamed as Hashdex Bitcoin ETF, having "DEFI" as its ticker. The change in name signifies that from March 27, 2024, DEFI has successfully altered its investment strategy, enabling the Fund to offer spot Bitcoin holdings and track a new benchmark index.
The revamped fund aims to invest a minimum of 95% of its total assets into spot Bitcoin. Remaining assets, up to 5%, will be poured into cash and cash equivalents, and Bitcoin futures contracts traded on CME, as stated by Hashdex.
Since its inception in 2018, Hashdex has always seen bitcoin as a once-in-a-generation opportunity, mentioned Marcelo Sampaio, the co-founder and CEO of Hashdex. Hashdex's CIO, Samir Kerbage, extended an invitation to all types of investors, regardless of their current Bitcoin holdings or lack thereof, to join Hashdex in their enduring endeavor to make digital assets accessible.
Published At
3/27/2024 2:16:47 AM
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