Hashdex Waives Fees for Crypto Fund in Europe, Aiming to Attract More Investors
Hashdex, a well-known global crypto-focused asset manager, announced a significant move on Wednesday. They plan to waive all fees for their Hashdex Nasdaq Crypto Index Europe (HASH) fund until it hits $1 billion in net asset value. This development comes as Hashdex aims to launch a first-of-its-kind joint Exchange Traded Fund (ETF) in the United States, which will include both Bitcoin and Ethereum.
What is Hashdex Offering?
The HASH fund is known as an Exchange Traded Product (ETP) and is currently the second largest crypto index ETP in Europe, boasting over $100 million in net asset value. HASH is listed on various notable exchanges, including:
- SIX Swiss Exchange
- Deutsche Börse Xetra
- Euronext Paris
- Euronext Amsterdam
Why the Fee Waiver?
According to Marcelo Sampaio, Hashdex co-founder and CEO, the fee waiver is an attempt to make it easier for European investors to get involved in the crypto market. “We see a tremendous opportunity to invite more European investors into the crypto ecosystem with this fee waiver,” Sampaio said in a press release.
Sampaio called this move an “extraordinary incentive” and believes it will encourage investors to diversify their holdings within the crypto market.
The Hashdex Nasdaq Crypto Index
The Hashdex Nasdaq Crypto Index (NCI), developed alongside Nasdaq, has quickly become a leading index for crypto ETFs and ETPs globally. The proposed joint Bitcoin and Ethereum ETF, if approved, will track the NCI and will include cash holdings along with cryptocurrencies. Trusted companies like Coinbase Custody and BitGo will act as custodians.
The NCI follows a market-capitalisation-weighted index, meaning the fund would primarily hold:
- Bitcoin (70.54%)
- Ethereum (29.46%)
These percentages reflect the predominant standings of these two leading cryptocurrencies.
Hashdex’s Milestones
Hashdex began offering a Bitcoin spot ETF in April and recently got approval to offer an Ethereum spot ETF. This positions Hashdex as a significant player in a year marked by key milestones for crypto funds in the United States.
By providing a fee waiver and pushing for more diversified crypto investments, Hashdex aims to bring more investors into the crypto world, especially from Europe.
For more updates and the latest news about cryptocurrencies, stay tuned.
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