The world’s first Bitcoin (BTC) exchange-traded fund (ETF) is going to be launched on the Bermuda Stock Exchange (BSX). According to an official statement released by the BSX, the new Bitcoin ETF is going to be called Hashdex Nasdaq Crypto Index ETF and there will be released to the market 3 million Class E shares.Bermuda Hosts the World First Bitcoin ETF
The new Bitcion ETF has been launched thanks to the Brazilian Fund Manager Hasdex that partnered with the Nasdaq in order to offer investors a safe and regulated Bitcoin ETF product. This would help firms and users get exposure to the crypto market through a traditional investment platform.
As per reports, the goal is to have the ETF operating by the end of the current year. Hashdex has been working in order to find a secure but also user-friendly jurisdiction where to launch a Bitcoin ETF. Bermuda is considered to be a crypto-friendly location where crypto companies can expand their services.
With the Bitcoin ETF investors will have the possibility to gain exposure to the crypto market but without holding Bitcoin. This is very useful due to the fact investors do not have to be worried about custody. Several Bitcoin platforms were attacked in the last years. Thousands of users lost their funds due to these hacks. This is why custody is certainly important for larger investors in the crypto market.
Hashdex0s Chief Executive Marcelo Sampaio explained that the ETF is going to have positive effects on the crypto industry. New investors will be able to have access to the crypto sector using a regulated platform.
In addition to it, he mentioned there are “billions of dollars” ready to invest in a Bitcoin ETF if this eventually is released in the United States.
About a possible Bitcoin ETF in the United States, Sampaio stated:“I’m going to give you the biggest front-running opportunity of your life: they will get an ETF across the line. There will be billions of...