Hashdex Bitcoin ETF
SpotOverview: The Hashdex Bitcoin ETF (DEFI) is a US-listed spot Bitcoin ETF that directly holds physical Bitcoin. Originally launched as a Bitcoin futures ETF in September 2022, it received SEC approval to convert to spot Bitcoin holdings in March 2024.
Investment Focus: Directly invests in physical Bitcoin, tracking the Nasdaq Bitcoin Reference Price.
Accessibility: Trades on NYSE Arca under the ticker DEFI.
Risk Profile: High risk due to Bitcoin's volatility; suitable for investors seeking direct Bitcoin price exposure.
Management and Fees: Managed with a 0.90% expense ratio.
Background: Hashdex is a global crypto-focused asset manager founded in Brazil in 2018, managing Bitcoin and crypto index funds.
Bitcoin ETFs: Launched the Hashdex Bitcoin ETF (DEFI) which converted from a futures ETF to spot Bitcoin on March 27, 2024, becoming the 11th US spot Bitcoin ETF.
Regulation: SEC-registered, trades on NYSE Arca.
Custody: Uses BitGo Trust Company for Bitcoin custody and U.S. Bank for cash.