hashdex - Pwim.Net

Digital Asset Firm Hashdex to Launch Web3 ETF on the Brazilian Stock Exchange

Hashdex, a global digital asset management firm headquartered in Brazil, announced Tuesday the upcoming launch of its Web3 ETF.

The company’s newest crypto ETF will be available on the Brazilian stock exchange, B3, under the ticker symbol WEB311 starting from March 30.

Hashdex developed the crypto ETF to offer a secure and diversified method for investing in Web3 and its underlying smart contract platforms.

Built-in partnership with CF Benchmarks, a major global digital asset market indices provider, WEB311 will replicate the “CF Web 3.0 Smart Contract Platforms Index”, which allocates to digital assets native to smart contract blockchains. The index’s largest holdings are Ether, Cardano, and Solana, each at roughly 22% as well as other assets in the index include Polkadot (19.5%), Algorand (8.8%), Tezos (3.5%) and Cosmos (1.1%).

Marcelo Sampaio, co-founder and CEO at Hashdex, talked about the development and said: “The WEB311 ETF not only provides exposure to the smart contract platforms underpinning Web3 but serves as an accessible and unique way to invest in projects that will be the main engine of the internet of the future.”

Meanwhile, Sui Chung, CEO of CF Benchmarks, also commented about the development and said: “The launch of the WEB311 ETF is a further proof of growing investor demand for regulated exposure to specific segments of the fast-maturing blockchain economy, demonstrating how our partners at Hashdex are committed to delivering innovation for both institutional and individual investors.”

Bridging Traditional Financial Market Access to Digital Assets

Early this month, Hashdex partnered with Nasdaq and therefore launched a twelve-part course designed to provide informative and educational resources for financial asset managers on the evolution of the digital asset ecosystem, investing considerations, regulation, taxes, and more. Due to increased interest among financial advisors in obtaining knowledge in the digital asset space, Hashdex unveiled the course to offer resources to empower the investment managers as they consider incorporating cryptocurrency into their investment strategies.

In January, Hashdex launched a decentralized finance ETF (DEFI11). The DeFi product offers diversified, safe, and regulated exposure across all segments of the DeFi ecosystem value chain. The ETF enables investors to invest in DeFi assets (including Unisawap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP) to enable them to get better benefits in the crypto market.

Last February, Hashdex launched the world’s first crypto exchange-traded fund (ETF), the Hashdex Nasdaq Crypto Index ETF. The fund, which is available for trading on the Bermuda Stock Exchange (BSX) for accredited non-U.S. investors, provides a simple solution for institutional investors to gain exposure to the cryptocurrency market.

Hashdex has more than 125,000 investors in its products globally and holds approximately $467 million under management.

Image source: Twitter/ Hashdex

Brazilian Asset Manager Hashdex Appoints Laurent Kssis as Managing Director

Hashdex, a fintech investment management firm based in Brazil, announced Tuesday the appointment of Laurent Kssis as Managing Director and Head of Europe.

In the new role, Mr. Kssis is expected to accelerate Hashdex’s European expansion as part of the company’s ongoing commitment to help investors across the globe better understand and gain diversified exposure to the crypto asset class.

Hashdex said Mr. Kssis brings an extensive experience in crypto asset and European crypto exchange-traded fund (“ETFs”) management practices to the company.

Mostly recently, Mr. Kssis served as Managing Director and Global Head of ETPs at Swiss issuer 21Shares. He managed the listing of more than 25 crypto ETPs across several European regulated exchanges. He also served on the issuer’s board of directors, where his presence was valuable in developing and pushing for innovative single tracker product launches for its European expansion.

Before joining 21Shares, Kssis worked as the CEO of the Swedish based crypto issuer XBT Provider AB, nowadays popularly known as CoinShares company. Prior to that, Mr. Kssis acquired over 15 years of experience in managing ETFs as well as professional experience in leading major companies, including Labranche, Bluefin, and Societe Generale.

Mr. Kssis was also actively involved in the primary and secondary capital markets, where he served several European ETF issuers, including Lyxor and IndeXchange (now Blackrock). In 2015, he led Coinsilium group in becoming the first blockchain venture company to IPO on the UK stock exchange, where he was subsequently appointed Non-Executive Chairman. Recently, Mr. Kssis stepped down as a board member of Swedish Index Provider Vinter Co after three years of service.

Marcelo Sampaio, Co-Founder & CEO of Hashdex, talked about Kssis appointment and said: “His (Kssis) background in crypto exchange-traded products, particularly in Switzerland – which has become the leading venue for listing crypto ETPs – will be invaluable in supporting Hashdex…We are honoured to have him join our team.”

Bridging Traditional Finance with Digital Asset Solutions

Early this month, Hashdex launched and listed Web3 ETF on the Brazilian stock exchange, B3, to serve the growing investor demand for regulated exposure to crypto ETFs. Hashdex developed the crypto ETF to provide a diversified method for investing in Web3.

In January, Hashdex launched a decentralized finance ETF (DEFI11) that provides institutional and individual investors with diversified, safe, and regulated exposure to all DeFi ecosystem value chain segments. The DeFi ETF enables investors to invest in DeFi assets such as Unisawap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP.

Last February, Hashdex launched the world’s first crypto exchange-traded fund (ETF) that enables over 250,000 investors to add cryptocurrency to their portfolios. The Hashdex Nasdaq Crypto Index ETF is available for trading on the Bermuda Stock Exchange (BSX) for accredited non-U.S. institutional investors to gain exposure to the crypto market.

Image source: Hashdex

EU Approves Brazilian Crypto Asset Management Firm Hashdex to List ETP Products

Brazil-based global digital asset management company Hashdex announced on September 1 that it has been approved to list its exchange-traded product (ETP) in the European Union.

In May, Hashdex launched the Hashdex Nasdaq Crypto Index Europe ETP on the Swiss SIX securities trading platform.

This is a major milestone following the issuance of approval on the six major Swiss exchanges, laying the foundation for expansion in the European market.

Previously, the company launched a crypto ETF “Web3 ETF” which will be listed on the Brazilian stock exchange B3 from March 30 under the ticker symbol WEB311.

In May this year, Hashdex launched the Hashdex Nasdaq Crypto Index Europe ETP on the Swiss SIX securities trading platform.

Meanwhile, Bruno Sousa, Head of New Markets at Hashdex, also commented on the development, saying: “Receiving approval to list in the European Union in only three months is a testament to the tireless efforts of our talented team as we expand our suite of products that serve the needs of European investors. We are focused on building on the recent successful launch of the Hashdex Nasdaq Crypto Index Europe ETP in Switzerland, and we look forward to continuing to make strong strides in positioning Hashdex as the leading European crypto issuer with the ability to deploy innovative, diversified strategies using our proven ETP structure.”

In partnership with Nasdaq, Hashdex has launched a 12-part course designed to provide financial asset managers with information on the evolution of the digital asset ecosystem, investment considerations, regulation, taxation and more Educational Resources. Due to the increased interest of financial advisors in acquiring knowledge in the field of digital assets, Hashdex has launched this course as a resource for investment managers considering cryptocurrencies in their investment strategies.

In February last year, Hashdex launched the world’s first crypto exchange-traded fund (ETF), the Hashdex Nasdaq Crypto Index ETF. The fund is traded on the Bermuda Stock Exchange (BSX) for accredited non-US investors. Investors provide institutional investors with an easy solution to gain exposure to the cryptocurrency market.

Hashdex has more than 125,000 investors globally and has approximately $467 million in assets under management.

Former Coinbase CLO Brian Brooks Joins Hashdex's Board of Directors

Hashdex, a global pioneer in crypto asset management, announced the addition of Brian Brooks to its Board of Directors. The board now expands from four to five members. Brooks, a representative of Hashdex investor Valor Capital Group, will serve as a strategic advisor, providing counsel on global regulation to further Hashdex’s global market growth.

Hashdex, known for co-developing the Nasdaq Crypto Index™ (NCI™) with Nasdaq, provides global investors with a reliable benchmark for the crypto asset class. In 2021, Hashdex introduced the world’s first crypto ETFs and other innovative products, enabling over 225,000 investors to simply and securely add crypto to their portfolios.

Brooks, often referred to as the “first fintech Comptroller,” is recognized as a visionary global leader in financial services, fintech, and cryptocurrency. His career is marked by historic achievements on bank charters, including granting the first fintech and crypto charters, and promoting bank-fintech partnerships. As a member of Hashdex’s Board, Brooks will enhance the firm’s efforts to bridge the gap between the crypto ecosystem and traditional finance, accelerating institutional adoption and scaling key partnerships with financial organizations and policymakers worldwide.

Marcelo Sampaio, Co-Founder and CEO of Hashdex, stated, “Brian’s extensive experience as a leader in financial regulation and the crypto industry will help Hashdex meet our core mission of giving investors simple and secure access to the developing crypto ecosystem. His proven ability to push forward thoughtful, innovation-driven public policy is much needed at this time, and we are thrilled to have him as a partner and advisor.”

Prior to joining Valor, Brooks served as CEO of two blockchain-focused companies and as chief legal officer of global crypto exchange Coinbase. He was also acting U.S. Comptroller of the Currency, heading the U.S. government agency that charters and supervises the national banking system. He served as a member of the FDIC board of directors and as a voting member of the Financial Stability Oversight Council.

Brooks currently serves as a Managing Partner at Valor Capital Group, a Venture Capital fund manager founded in 2011 that pioneered the “Cross-Border” strategy, seeking to act as a bridge between the U.S. and Latin America technology markets. Valor, which invests in transformative businesses from startup to scale-up stages, led Hashdex’s Series A round and has been supporting the company with strategic, business development, and regulatory initiatives in Brazil and abroad.

SEC Delays Decision on Ether ETFs to May 2024, Impacting Key Proposals

The United States Securities and Exchange Commission (SEC) has stated that it would postpone its judgment on various exchange-traded funds (ETFs) that are based on Ether (ETH) until May 2024. This is a big event for the cryptocurrency sector. There are major exchange-traded fund (ETF) proposals that are impacted by this delay. These include the Grayscale Ethereum Futures ETF and the Hashdex Nasdaq Ethereum ETF.

The Delay and its Implications

Regulatory documents made on December 18 disclosed the decision made by the SEC, which extends the review time for these exchange-traded funds (ETFs). The Hashdex Ether ETF, which intends to hold both spot Ether and futures contracts, and Grayscale’s Ethereum Futures ETF, which is considered as a possible gateway to transforming its Ethereum Trust into a spot Ethereum ETF, are two of the most impacted exchange-traded funds (ETFs). In addition, the Securities and Exchange Commission (SEC) postponed its decision on the VanEck spot Ethereum ETF as well as a similar ETF that was submitted by Cathie Wood’s ARK Invest; 21Shares.

Public Input and Previous Approvals

Currently, the SEC is in the process of soliciting more public feedback on whether or not these exchange-traded funds (ETFs) should be listed. The authority seems to be taking a cautious approach toward the approval of spot or mixed-type Ethereum products, as shown by this step. The SEC has not yet given its approval to any spot or mixed-type Ethereum exchange-traded funds, despite the fact that it had previously authorized Ethereum futures ETFs.

Market Analyst Perspectives

According to James Seyffart, an analyst for Bloomberg ETFs, these delays were something that was expected and were likely to take place before December 25. He brought out the fact that the final decision from the regulatory body is anticipated to be made by the end of May 2024.

The SEC’s decision to postpone the implementation of cryptocurrency-based financial products brings to light the regulatory obstacles and scrutiny that these products endure. Over the course of the ongoing development of the cryptocurrency market, the choices made by regulatory agencies such as the SEC are being carefully monitored for the possible influence they might have on the dynamics of the market and the involvement of investors.

SEC Postpones Ethereum ETF Decision Amid Regulatory Scrutiny

The U.S. Securities and Exchange Commission (SEC) has once again extended the timeline for its decision regarding the spot Ethereum exchange-traded funds (ETFs) proposed by Hashdex and Ark 21Shares. The regulatory body has set a new deadline for May 2024, as it requires additional time to assess the implications and potential regulatory issues that could arise from the introduction of such products to the market.

This move marks another instance in the SEC’s cautious approach towards cryptocurrency ETFs. Despite the growing interest and investment in cryptocurrencies, the SEC has consistently delayed or denied applications for cryptocurrency ETFs, citing concerns over market manipulation, liquidity, and the protection of investors.

Analysts James Seyffart and Eric Balchunas have expressed skepticism regarding the approval of these ETFs, predicting further delays. According to their analysis, the regulatory landscape for crypto ETFs remains uncertain, and the SEC’s track record suggests a pattern of postponements. They anticipate at least three more delays for Ethereum ETFs within the coming 12 days, which reflects the SEC’s meticulous review process in the face of complex and evolving crypto markets.

The SEC’s decision to delay its verdict on Hashdex and Ark 21Shares’ applications underscores the challenges that digital asset management firms face in gaining regulatory approval for crypto-related investment products. The SEC has been under pressure to provide clearer guidance and establish a regulatory framework that would allow for the safe integration of such products into the U.S. financial system, while also ensuring investor protection.

The potential approval of an Ethereum ETF could have significant implications for the cryptocurrency industry. It would provide a regulated and more accessible means for investors to gain exposure to Ethereum without the need to directly purchase and hold the cryptocurrency. However, the SEC’s hesitancy suggests that the commission remains unconvinced that the current market infrastructure and surveillance mechanisms are adequate to address its concerns.

In the broader context, the SEC’s position on cryptocurrency ETFs is reflective of the agency’s broader approach to digital asset regulation. The SEC has taken a stance of scrutiny and enforcement, as seen in various actions taken against crypto companies and their executives for alleged violations of securities laws. This pattern of enforcement and cautious regulatory progress may continue to shape the landscape of crypto investments in the United States.

As the May 2024 deadline approaches, the crypto community and investment firms will be closely monitoring the SEC’s actions and statements for indications of a possible shift in its stance on crypto ETFs. Until then, the postponed decision remains a significant point of discussion and analysis within the financial and crypto sectors.