Hashdex’s bitcoin fund does not yet offer spot exposure

Its registration statement to convert the fund from a futures-based ETF to a spot ETF is still under SEC review, firm says in “correction” statement

article-image

Hashdex and Geneeva/Shutterstock modified by Blockworks

share

Hashdex has not yet added spot exposure to its bitcoin ETF, the company said Thursday — as it awaits final clearance from the US Securities and Exchange Commission.

The Brazil-based asset manager filed in August to modify its Bitcoin Futures ETF (DEFI) to a new fund — the Hashdex Bitcoin ETF — that also holds bitcoin directly.

The SEC on Wednesday approved proposals by stock exchanges Nasdaq, NYSE Arca and Cboe BZX to list 11 ETFs that would hold bitcoin directly, including Hashdex’s. 

Read more: Spot bitcoin ETFs surpass $1B in trade volumes after first 30 minutes

But Hashdex’s registration statement to convert the fund has not yet gone effective — an additional necessary step for the investment strategy change to be official.

Hashdex said Wednesday its “listing rule” to complete the futures-focused fund’s conversion to the spot bitcoin ETF had been approved. But in a “correction” press release issued Thursday, the asset manager said the Hashdex Bitcoin Futures ETF does not currently hold bitcoin directly. 

Read more: How Hashdex’s planned bitcoin ETF differs from competing proposals

“At a later date, the fund will change its name and change its investment strategy to permit spot bitcoin in its portfolio,” the release states. “These changes will be effected by a registration statement that is currently under review with the US Securities and Exchange Commission.” 

A Hashdex spokesperson declined to comment beyond the Thursday release.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

“Be your own bank” meets “be your own DJ”

article-image

Dragonfly’s Haseeb Qureshi and 6MV’s Mike Dudas discuss the recent “staid and rational” behavior of crypto markets

article-image

Crypto is a business — and it might be winner-takes-most

article-image

How a political refugee turned NFT trader is giving back to his alma mater

article-image

July 9 is approaching. Here are the deals on the table (that we know of)

article-image

The trading app will appear on jerseys and in a dedicated financial web series as part of its EU crypto expansion