Brazilian fund manager and Nasdaq to release worlds’s first Bitcoin ETF. Hashdex, regulated Brazilian fund manager has secured 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 that it had approved the ‘Hashdex Nasdaq Crypto Index’ on September 18, unveiling that 3 million Class E shares will be issued for trade on the platform.
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.
Earlier this week, former Goldman Sachs executive and fund manager Raoul Pal predicted that the launch of Bitcoin ETF in the U.S was also imminent, detailing, “I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate.”
[image: Raphael Nogueira]