Cryptocurrency
Brazilian fund manager and Nasdaq to launch world’s first Bitcoin ETF
As reported by Cointelegraph, “Regulated Brazilian fund manager Hashdex has inked a deal with Nasdaq to launch the world’s first crypto asset exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX). “The stock exchange announced it had approved the ‘Hashdex Nasdaq Crypto Index’ on September 18, revealing that 3 million Class E shares will be issued […]
As reported by Cointelegraph, “Regulated Brazilian fund manager Hashdex has inked a deal with Nasdaq to launch the world’s first crypto asset exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX).
“The stock exchange announced it had approved the ‘Hashdex Nasdaq Crypto Index’ on September 18, revealing that 3 million Class E shares will be issued for trade on the platform. Cointelegraph Brazil confirmed the Nasdaq partnership and ETF with Hashdex’s chief executive, Marcelo Sampaio
“According to local media outlet Infomoney, the fund should be live and trading on the BSX by the end of the year. The report notes that Hashdex chose to apply with BSX due to Bermuda’s crypto-friendly regulations.
“Exchange-traded funds offer a regulated and insured vehicle for institutional investors access exposure to commodities without holding the underlying assets.
“While no further details regarding the ETF have been made public, Hashdex stated that the methodology and other key information concerning the product will be released by Nasdaq on the product’s launch date.
“In comments to major Brazilian newspaper Oglobo, Sampaio said the ETF’s launch would advance institutional investment in the crypto sector…”