TechFlow News — Tidal Investments and Hashdex Asset Management announced on Tuesday that their spot bitcoin exchange-traded fund (ETF), formerly known as the Hashdex Bitcoin Futures ETF, is now trading in the U.S. under the new name Hashdex Bitcoin ETF (DEFI).
A statement said the ETF's renaming—using the ticker symbol "DEFI"—corresponds with its conversion to allow the fund to hold spot bitcoin and track a new benchmark index that took effect on March 27.
The ETF is expected to allocate at least 95% of its assets to spot bitcoin holdings, with the remaining up to 5% invested in CME-traded bitcoin futures contracts, cash, or cash equivalents.
"We are pleased to complete the conversion of DEFI and partner with Tidal to deliver innovative products that further our mission of enabling individuals and institutions around the world to access this transformative innovation," said Marcelo Sampaio, co-founder and CEO of Hashdex, in the statement.
According to Hashdex’s website, as of March 27, the fund had total net assets of $11.16 million.
