Crypto ETP issuer Hashdex has announced the launch of the Hashdex Bitcoin Futures ETF (ticker: DEFI), the world’s first Bitcoin Futures ETF registered solely under the Securities Act of 1933 (“’33 Act”).
The Hashdex Bitcoin Futures ETF, developed with Teucrium Trading, LLC (“Teucrium”), a ’33 Act fund specialist focused on commodities funds; and Victory Capital Management Inc. (“Victory Capital”), a global asset manager with USD159.1 billion in assets under management as of August 31, 2022, will be available on NYSE Arca under the ticker symbol “DEFI” beginning Friday, September 16.
“The launch of the Hashdex Bitcoin Futures ETF showcases Hashdex’s ongoing commitment to delivering investors with innovative and regulated products and services that allow them to gain exposure to the digital asset class,” says Marcelo Sampaio, Co-Founder & CEO of Hashdex. “Today’s news marks a significant milestone for our firm as we continue to introduce additional products and services – both in the U.S. and globally – that help meet the specific needs of all types of individual and institutional investors.”
Hashdex writes that it is a leader in developing industry-first crypto offerings that enable global investors to participate in the crypto ecosystem. As part of its mission to reach more investors across the globe, the firm continues to expand globally, with offices in Brazil, the United States, and Europe.
In partnership with Nasdaq, Hashdex co-developed the Nasdaq Crypto Index (NCI), which benchmarks the institutionally investable crypto market. The firm also partnered with Victory Capital to distribute crypto products in the US, including a private crypto fund for accredited investors.
The Hashdex Bitcoin Futures ETF (DEFI) marks the firm’s first ETF registered with the US Securities and Exchange Commission (“SEC”) and the firm writes that it represents a major step in Hashdex’s ongoing commitment to providing investors access to the crypto space through the best possible product structures allowed by regulators. As the Digital Asset Adviser, Hashdex is responsible for providing the partners with research and analysis regarding bitcoin and bitcoin markets for use in the operation and marketing of DEFI.
“At Hashdex, we have an unwavering dedication to consistently find innovative ways of building products that provide investors with options to gain crypto exposure – our latest product, DEFI, does just that by honoring Bitcoin as what we believe is the foundation of the Decentralized Finance revolution,” says Bruno Sousa, Head of US at Hashdex. “We are thrilled to join with best-in-class providers, Teucrium and Victory Capital, to introduce this first-of-its-kind investment vehicle. Furthermore, it has a different tax treatment than the ’40 Act Bitcoin futures ETFs.”
“We are excited to continue working with Hashdex as part of our shared mission of delivering new solutions for a relatively new asset class to U.S. investors,” says Mannik Dhillon, President of VictoryShares and Solutions for Victory Capital.
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