Hashdex Waives Fees for Europe Fund in Bitcoin and Ethereum ETF Launch
Hashdex, a prominent global asset manager specializing in cryptocurrencies, recently announced a significant move to waive all fees for its Hashdex Nasdaq Crypto Index Europe (HASH) fund until it reaches $1 billion in net asset value. This strategic decision is aimed at attracting more investors to participate in the crypto ecosystem.
The company is actively working on introducing a groundbreaking joint Exchange Traded Fund (ETF) in the United States that will hold both Bitcoin and Ethereum. The HASH fund, classified as an Exchange Traded Product (ETP), currently stands as the second largest crypto index ETP in Europe, boasting over $100 million in net asset value. It is listed on various prominent exchanges including the SIX Swiss Exchange, Deutsche Börse Xetra, Euronext Paris, and Euronext Amsterdam.
Marcelo Sampaio, the co-founder and CEO of Hashdex, emphasized the importance of gaining exposure to multiple digital assets through a top-tier index to leverage the long-term potential of the crypto market. The collaboration with Nasdaq has resulted in the development of the Hashdex Nasdaq Crypto Index (NCI), which has quickly become a leading index for crypto ETFs and ETPs globally.
The proposed joint Bitcoin and Ethereum ETF by Hashdex, if approved, will track the NCI and include cash holdings alongside crypto assets. The fund will primarily hold Bitcoin (70.54%) and Ethereum (29.46%), reflecting the relative weightings of these two major cryptocurrencies.
Hashdex has already made significant strides in the crypto fund space, offering a Bitcoin spot ETF earlier this year and gaining approval to provide an Ethereum spot ETF last month. These achievements solidify Hashdex’s position as a key player in the evolving landscape of crypto funds in the United States.
In conclusion, Hashdex’s fee waiver for its HASH fund and its innovative ETF offerings underscore the company’s commitment to providing investors with diversified exposure to the crypto market.
