Hashdex announced the renaming of the Hashdex Bitcoin Futures ETF exchange-traded fund to Hashdex Bitcoin ETF, which began trading on the market on March 27, under the ticker (DEFI).
The name change of Hashdex's Bitcoin ETF comes as part of the company's strategy to provide investors with a Shortcut to Bitcoin.
The company opted for direct investment in cryptocurrency as a fundamental investment strategy to remain relevant and competitive within the growing and dynamic cryptocurrency market.
Bitcoin spot ETFs were approved by the SEC earlier this year, after a decade of refusals by the regulator. Despite being listed on the market for just over two months, these investment vehicles are quickly becoming a crucial part of the financial landscape, allowing investors the ability to invest in the world’s largest cryptocurrency in a direct, regulated and accessible way.
In a release In a recently published statement, Hashdex highlighted that the name change of its Bitcoin futures ETF to Hashdex Bitcoin ETF (DEFI) better reflects The new direct investment strategy from the fund in cryptocurrency.
From futures contracts to direct investment in Bitcoin
Marcelo Sampaio, co-founder and CEO of Hashdex, emphasized the relevance of Bitcoin as a modern and innovative investment asset, which has the potential to empower people and institutions in the financial revolution. He called cryptocurrency a “generational opportunity” which can provide investors with attractive advantages like no other asset in existence. Hence the importance of adapting and reinventing your listed investment product.
The Hashdex Bitcoin Futures ETF was launched on the New York Stock Exchange in 2022, as The first exchange-traded fund based on Bitcoin futures contracts in the world. According to Hashdex, the last 4 years on the market have served to educate investors about the potential of cryptocurrency, increase confidence and ensure it is a more accessible asset.
The new Hashdex Bitcoin ETF (DEFI) is being offered alongside Tidal Investments as the fund’s sponsor, Hashdex said. The investment asset manager’s CEO emphasized that it has chosen to work with Tidal to leverage its extensive experience and accelerate access to Bitcoin as one of the most attractive assets on the market.
DEFI holds 5.500 bitcoins
At the time of writing this article, the Hashdex's DEFI holds a total of 5.500 BTC in reserves, with a value of $380 million dollars, according to the data consulted on the Bitcoin Treasuries platform.
In terms of Bitcoin in reserve, DEFI ranks as the eighth-largest cryptocurrency spot fund, after Valkyrie Investments’ ETF, the Valkyrie Bitcoin Fund (BRRR).
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