The Block Crypto News14 minutes ago

Published on March 27, 2024 01:01 GMT+00:00edited on March 27, 2024 01:04 GMT+00:00

Tidal Investments and Hashdex Asset Management on Tuesday announced the trading of their spot bitcoin exchange-traded fund (ETF) in the U.S. after renaming the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF (DEFI).

The pair said in a statement that the renaming of the ETF — with “DEFI” as its ticker symbol — corresponds to its conversion to allow the ETF to provide spot bitcoin holdings and track a new benchmark index effective March 27.

The ETF is expected to invest at least 95% of the fund’s assets in spot bitcoin, with up to 5% of its remaining assets set to be invested in CME-traded bitcoin futures contracts and in cash or cash equivalents. The volume of the fund’s total net assets stood at $11.16 million as of March 27, according to Hashdex’s website.

“We are thrilled to …