Brazilian wealth management company Hashdex will partner with Nasdaq to launch the world’s first tradable Bitcoin exchange-traded fund (ETF) on the Bermuda Stock Exchange (BSX).
According to BSX, the fund will be called the Hashdex Nasdaq Crypto Index. As part of the launch of the ETF on the platform, 3 million E-class shares will be issued. The launch of the Hashdex Nasdaq Crypto Index is planned for the end of this year, with the choice of BSX exchange linked to favorable regulatory policies of Bermuda.
Hashdex manages four funds with a total capitalization of $ 46.4 million. At the same time, the company also invests in cryptocurrency assets. The auditor is KPMG, the main banking partner is Silvergate Bank, and crypto assets are stored in custody services Xapo, Kingdom Trust and Vo1t.
More details on the ETF will be revealed closer to the launch of the fund. Recall that in July of this year, Grayscale Investments managing director Michael Sonnenshein expressed confidence that the approval of a Bitcoin ETF in the United States is only a matter of time.