- The Brazil-based asset manager recently announced the launch of the world’s first crypto exchange-traded fund (ETF)
- The non-US recognized investors can easily trade in this fresh introduced crypto ETF
- The advancement of the NASDAQ cryptocurrency index was commenced in July 2020
Hashdex focuses on bridging the gap between the digital assets world and conventional markets. It also intends to open the blockchain capabilities to popular investors.
Hashdex’s announcement of ETF launch
The Brazil-based asset manager recently announced that it is all set to launch the world’s first crypto exchange-traded fund (ETF). The announcement was made on 8th of February.
NASDAQ, the US stock exchange, supported the respective launch of Hashdex Nasdaq Crypto Index ETF. The ETF is based on the crypto index NCI.
The non-US recognized investors can easily trade in this fresh introduced crypto ETF. It will be registered directly on the Bermuda Stock Exchange (BSX). The creation of the tool suggests that the interest of firms lies specifically in exchange-traded products. These products then are a part of the conventional financial space and facilitate them with data to establish cryptocurrency offerings.
The Hashdex Nasdaq Crypto Index ETF is listed on the Bermuda Stock Exchange. The licensed non-U.S. investors will be able to trade in the Hashdex Nasdaq Crypto Index ETF. The native investors can receive exposure through a group of feeder funds and the country’s top investment platforms. Hashdex manages these respective feeder funds.
Association of CF Benchmarks with NCI
The CF Benchmarks, a Nasdaq’s calculation agent, is responsible for maintaining the NCI. The NCI traces the activity of a manifold basket of USD-traded digital assets. These could be bitcoin cash, chainlink, and stellar lumens. Bitcoin weighs the highest on NCI with 78.61%, while Ethereum follows 16.86%.
Sui Chung, CEO of CF Benchmarks, states that the Nasdaq Crypto Index reflects on another step toward the institutionalization of crypto. The investors are looking for wider exposure to the digital asset category.
S&P Global and the Chicago Board Options Exchange also made similar announcements recently. The institutions are working on indicators that could become the root of similar tools in the future.
The advancement of the NASDAQ cryptocurrency index commenced in July 2020. Hashdex, the Brazilian investment managers, also participated in the process keenly.
Marcelo Sampaio, Hashdex CEO, stated that the commodity should essentially enhance the arrival of institutional investors in crypto. This respective trend of fresh entries has been achieving incredible momentum over the past few months.
Currently, the NASDAQ index involves a variety of digital assets: Bitcoin, Ether, Litecoin, and so on.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.