Hashdex will be the 11th entrant to a competitive spot Bitcoin ETF race in the U.S. dominated by BlackRock and Fidelity.
Asset manager Hashdex is officially joining the spot Bitcoin (BTC) exchange-traded fund (ETF) market in the United States after completing the conversion of its futures ETF to hold spot Bitcoin.
In a March 26 announcement, Hashdex said it has renamed and converted its Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF with the ticker “DEFI.”
“DEFI’s renaming corresponds to DEFI’s completion of the conversion of its investment strategy to allow the Fund to provide spot Bitcoin holdings and its tracking of a new benchmark index effective March 27, 2024,” it said.