tl;dr
Tidal Investments and Hashdex Asset Management Rebrand Hashdex Bitcoin Futures ETF to Hashdex Bitcoin ETF (DEFI) Tidal Investments and Hashdex Asset Management recently renamed the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF (DEFI) following the successful conversion to a Bitc...
Tidal Investments and Hashdex Asset Management Rebrand Hashdex Bitcoin Futures ETF to Hashdex Bitcoin ETF (DEFI)
Tidal Investments and Hashdex Asset Management recently renamed the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF (DEFI) following the successful conversion to a Bitcoin ETF. The fund will invest 95% of its assets in spot Bitcoin, with the goal of maximizing physical BTC holdings. Renowned ETF analyst Eric Balchunas recognized DEFI as the eleventh Spot Bitcoin ETF, despite being a late entrant to the market. The ETF has been designed to allow investors to transparently track the BTC price and will handle its Bitcoin transactions with the Chicago Mercantile Exchange.
DEIF’s entry into the market was acknowledged by Eric Balchunas, the senior ETF analyst at Bloomberg, who tweeted "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." The ETF manager and asset manager jointly announced the trading of their spot Bitcoin exchange-traded fund (ETF) via a post on March 26. Hashdex’s CEO, Marcelo Sampaio, expressed excitement about introducing their ETF to the market and underscored the conviction that bitcoin is a generational opportunity, driving their ongoing focus on offering regulated products for participation in the blockchain ecosystem.
As part of the official post, the Fund’s investment policy emphasizes maximizing physical Bitcoin holdings, with at least 95% of the Fund’s assets invested in spot Bitcoin. The remaining assets are set to be invested in CME-traded Bitcoin futures contracts and cash and cash equivalents. DEFI has been designed to permit investors to track the BTC price and will transparently "acquire, dispose, and value its Bitcoin" with the Chicago Mercantile Exchange. Mike Venuto, CIO and co-founder of Tidal, lauded Hashdex’s commitment to the industry and their extensive experience, leading Tidal to choose them as a partner for building an investor-friendly product.
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