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Bitcoin Futures ETF Approved and This Time it May Presage Spot Approval

On Friday, launching a new futures-backed product gave hope to those waiting for a physically-backed US Bitcoin exchange-traded fund (ETF). Trading has begun on the hashdex Bitcoin futures ETF.

It was created in collaboration with Teucrium Trading, LLC (“Teucrium”), a ’33 Act fund specialist focused on commodities funds, and Victory Capital Management Inc. (“Victory Capital”), a global asset manager with $159.1 billion in assets under management as of August 31, 2022. It will be available on NYSE Arca today, September 16, under the ticker symbol “DEFI.”

Previously, the Securities and Exchange Commission (SEC) has rejected numerous spot Bitcoin ETFs. As we noted in June, the chances of one being approved are slim; however, the regulator has approved several futures-backed ETFs, such as the ProShares Bitcoin Strategy ETF.

Marcelo Sampaio, Co-Founder & CEO of Hashdex, said:

“The launch of the Hashdex Bitcoin Futures ETF showcases Hashdex’s ongoing commitment to delivering investors with innovative and regulated products and services that allow them to gain exposure to the digital asset class. Today’s news marks a significant milestone for our firm as we continue to introduce additional products and services – both in the US and globally – that help meet the specific needs of all types of individual and institutional investors.”

First Bitcoin Futures ETF Under 1933 Act

Victory Capital announced on September 14 that it assisted in the launch of the Hashdex Bitcoin Futures ETF, the first Bitcoin ETF solely registered and governed by the 1933 US Securities Act and backed by futures contracts. According to the law firm, the registration distinguishes the new ETF from previous BTC futures ETFs registered and governed by the Investment Company Act of 1940.

About Victory Assets

As of August 31, 2022, the total amount of assets managed by Victory Capital What $159.1 billion. The company uses an innovative business strategy that combines a boutique investment firm’s best features with a streamlined, consolidated headquarters for operations and marketing. In addition, investors can access Victory Capital’s specialist investing methods, whether they be institutions, intermediaries, retirement platforms, or private individuals.

Mutual funds, exchange-traded funds, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, and a 529 college savings plan are just some of the investment products offered by Victory Capital, which has 12 independent investment franchises and a solutions platform.

Mannik Dhillon, President of VictoryShares and Solutions for Victory Capital, said:

“We are excited to continue working with Hashdex as part of our shared aim to bring new solutions for a relatively new asset class to US investors.”

Hashdex—Things You Should Know

Hashdex is at the forefront of pioneering new crypto services that give investors throughout the world access to the cryptocurrency market. The company has branches in Brazil, the United States, and Europe as part of its effort to attract additional investors from all over the world. Hashdex co-created the Nasdaq Crypto IndexTM (NCITM) with Nasdaq to serve as a benchmark for the institutionally investable segment of the cryptocurrency industry.

In addition, the company has partnered with Victory Capital to market crypto goods in the United States. These products include a private crypto fund open only to approved investors.

As the Digital Asset Advisor, the company provides information and analysis on bitcoin and the bitcoin markets to its partners for use in running and promoting DEFI. Hashdex remains committed to offering investors cutting-edge, regulated products and services that allow them to participate in the digital asset class.

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Author: Ali B

Ali is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial data and investment trends, carry out technical analysis, fundamental analysis, and make an informed decision on the best ways to strategize their investment

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