Hashdex, the asset management firm, has made a significant move in the cryptocurrency space by officially entering the spot Bitcoin exchange-traded fund (ETF) market in the United States. This development comes after Hashdex successfully converted its futures ETF to hold spot Bitcoin assets, marking a strategic shift in its investment approach.
The announcement, made on March 26, revealed that Hashdex has rebranded its Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF, now trading under the ticker “DEFI.” This renaming aligns with DEFI’s completion of the conversion of its investment strategy to allow for spot Bitcoin holdings and its tracking of a new benchmark index effective March 27, 2024.
Under this new strategy, the Hashdex Bitcoin ETF will allocate at least 95% of its assets into spot Bitcoin, showcasing Hashdex’s strong belief in the potential of Bitcoin as a generational opportunity. Additionally, up to 5% of the remaining assets will be invested in CME-traded Bitcoin futures contracts and cash equivalents, providing a diversified approach to crypto investment.
Marcelo Sampaio, co-founder, and CEO of Hashdex expressed his excitement about this strategic move, stating, “Since our founding in 2018, Hashdex has strongly believed that Bitcoin is a generational opportunity.” This sentiment reflects the growing confidence among institutional players in the long-term viability and potential of cryptocurrencies as an asset class.
Samir Kerbage, Hashdex’s chief investment officer, extended the invitation to investors, emphasizing the inclusivity of their approach. “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.”
Hashdex’s entry into the spot Bitcoin ETF market signifies a broader trend of institutional acceptance and adoption of cryptocurrencies. With regulatory clarity and innovative investment products, the crypto landscape continues to evolve, offering investors new opportunities and avenues for portfolio diversification in the digital asset space.
