Summary
TLDR: Hashdex launched a Bitcoin ETF on the NYSE, converting its existing Bitcoin Futures ETF to a spot Bitcoin ETF. The fund will hold physical Bitcoin and include Bitcoin futures. The ETF is sponsored by Tidal ETF Services and BitGo serves as the custodian. Hashdex’s application was delayed compared to other firms, but it is now live and operational.
Key Points
1. Hashdex launched its Bitcoin ETF on the New York Stock Exchange, becoming the eleventh Bitcoin ETF to go live since the SEC approved fund applications in January.
2. Hashdex converted its Bitcoin Futures ETF to a spot Bitcoin ETF to provide investors with more immediate exposure to the cryptocurrency, holding actual Bitcoin and incorporating Bitcoin futures within the Chicago Mercantile Exchange (CME).
3. The Hashdex Bitcoin ETF holds 5,500 Bitcoins, currently valued at around $377.2 million, and is sponsored by Tidal ETF Services, with BitGo serving as the custodian of the underlying Bitcoin.