US trading of Hashdex’s latest Bitcoin ETF to commence on Wednesday

Asset manager Hashdex has officially entered the spot Bitcoin exchange-traded fund (ETF) market in the United States. The company has converted its Hashdex Bitcoin Futures ETF into the Hashdex Bitcoin ETF, with the ticker “DEFI”. As part of the conversion, the fund will now invest at least 95% of its assets into spot Bitcoin. Up to 5% of the remaining assets will be allocated to CME-traded Bitcoin futures contracts and cash equivalents. Hashdex believes that Bitcoin presents a significant opportunity and aims to make digital assets accessible to all types of investors. The company’s ETF charges a management fee of 0.90% per year, which is higher than the industry average of around 0.30% but lower than the Grayscale Bitcoin Trust’s fee of 1.5% per year. Hashdex joins a competitive spot Bitcoin ETF market that has seen nearly $25.5 billion in cumulative inflow, led by BlackRock and Fidelity’s ETFs.