A Bitcoin ETF is one of the important steps that the crypto world has been waiting for several years to attract new investors to the market and thus drive money into the industry. So far, there are no applications for an ETF approved by the US Securities Exchange Commission SEC. However, a Brazilian fund manager could pose a breaking point in this matter.
Bitcoin ETF from Hashdex and Nasdaq until the end of the year …
According to the news in the Brazilian press; fund manager Hashdex signed an agreement with Nasdaq to launch a Bitcoin ETF. Approval for Hashdex-Nasdaq Crypto Index was given on September 18. The ETF will issue 3 million Class E shares to be traded on the Bermuda Stock Exchange. It is stated that the fund will be released by the end of this year and will be ready for trade.
It was informed that Hashdex is crypto money friendly and chose Bermuda due to legal convenience. According to the news, more information about the full operation will not be released until the official start day.
Hashdex CEO Marcelo Sampaio explained that this step is proof that institutional investors’ interest in the crypto market continues to rise today:
“This process will also accelerate the entry of institutional investors into this sector. The trend is becoming more concrete ”
According to Brazilian news outlet Oglobo, this new financial product will pave the way for institutional investors such as wealth funds, pension funds and donation funds to invest their capital in the crypto market. Hashdex is headquartered in Ipanemda and was founded by Marcelo and Bruno Caratori in 2018, while Marcelo; He had worked with Oracle and Microsoft and is a well-known figure in the industry.
Hashdex currently manages assets of approximately $ 46.4 million divided into 4 funds, three of which are listed in Brazil. Considering that there are cryptocurrencies among these funds, it is seen that the company already has enough experience in the field of crypto.
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