U.S Has its 11th Spot Bitcoin ETF After Hashdex Fund Conversion

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U.S Has its 11th Spot Bitcoin ETF After Hashdex Fund Conversion
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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

Trading under the ticker DEFI, asset manager Hashdex’s Bitcoin Futures ETF – which had been trading as a futures-based fund on the New York Stock Exchange since 2022 – was renamed and converted into the Hashdex Bitcoin ETF and now operates as a spot bitcoin fund.The futures allocation will allow DEFI to better track bitcoin prices over time and provide a more predictable creation/redemption process, the company said.

The Hashdex conversion comes over two months after the original ten spot bitcoin ETFs started trading on Jan 11. Excluding Grayscale's GBTC , BlackRock's IBIT and Fidelity's FBTC are leading the way in asset gathering, with each having more than $10 billion in assets under management. WisdomTree's BTCW is the smallest of the entrants, with 1,126 bitcoins and just shy of $80 million in AUM.

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