Asset management firm Hashdex’s spot Bitcoin exchange-traded fund (ETF) will begin trading today on the US market under the ticker “DEFI.”
According to Yahoo Finance data, early trading data indicates significant trader interest, with the fund already showing a pre-market uptick of over 3%.
Fund conversion
In a March 26 statement, Tidal Investments and Hashdex announced renaming Hashdex Bitcoin Futures ETF as Hashdex Bitcoin ETF under the ticker “DEFI.”
DEFI’s new benchmark will be the Nasdaq Bitcoin Reference Price Settlement (NQBTCS), aligning more closely with its direct Bitcoin investment strategy. Hashdex emphasized its transparent approach to trading Bitcoin, utilizing the CME futures exchange for physical transactions and CME-monitored pricing.
The fund would hold at least 95% of assets in physical Bitcoin, with the remaining 5% potentially allocated to CME-traded Bitcoin futures contracts and cash.
Hashdex stated that BitGo would act as its Bitcoin custodian, with T
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