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Global crypto-focused asset manager Hashdex announced on Wednesday that it will waive all fees for the Hashdex Nasdaq Crypto Index Europe (HASH) fund until it reaches a net asset value of $1 billion.
The news comes as Hashdex moves forward with offering the first joint U.S. exchange-traded fund (ETF) to hold both Bitcoin and Ethereum.
The company’s HASH fund (exchange-traded fund, ETP) is the second-largest cryptocurrency index ETP in Europe with net assets of over $100 million. HASH is currently listed on the SIX Swiss Exchange, Deutsche Boerse Xetra, Euronext Paris and Euronext Amsterdam.
“HashDex believes that the best way to participate in the long-term cryptocurrency landscape is to invest across multiple digital assets through a best-in-class index,” Hashdex co-founder and CEO Marcelo Sampaio said in a press release. “We believe this fee waiver creates a great opportunity to attract more European investors into the crypto ecosystem.”
Sampaio called it an “extraordinary incentive” and said the move would encourage investors to hold assets across the crypto ecosystem.
of Hashdex Nasdaq Crypto Index (NCI)The index, developed in collaboration with Nasdaq, has quickly established itself as the leading index for cryptocurrency ETFs and ETPs globally, the company said.
If Hashdex’s proposed Bitcoin and Ethereum joint ETF is approved, it will track NCI and This includes cash holdings in addition to cryptocurrency. Coinbase Custody and BitGo are the designated custodians.
The NCI is a market-capitalization weighted index, and the fund primarily holds Bitcoin (70.54%) and Ethereum (29.46%), reflecting the relative weighting of these two leading cryptocurrencies.
Hashdex began offering a bitcoin spot ETF in April and was one of the companies approved to offer an ethereum spot ETF last month, establishing itself as a major player in a landmark year for U.S. cryptocurrency funds.
Editor: Ryan Ozawa.
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