Tidal and Hashdex announce the conversion of Bitcoin futures ETF to Bitcoin spot ETF

ChainCatcher news, according to The Block, Tidal Investments and Hashdex Asset Management announced on Tuesday that they will trade their Bitcoin spot ETF in the United States and rename the Hashdex Bitcoin Futures ETF to Hashdex Bitcoin ETF (DEFI).

The two companies stated in a press release that the ETF will be renamed DEFI as its trading code, corresponding to its conversion to allow the ETF to hold spot Bitcoin and track a new benchmark index, effective March 27.

The ETF is expected to invest at least 95% of its fund assets in spot Bitcoin, with up to 5% of the remaining assets invested in Bitcoin futures contracts traded on the CME and cash or cash equivalents.

According to information on the Hashdex website, as of March 27, the total net assets of the fund amount to $11.16 million.