Airtel to develop 5G gear through own R&D and US-Japanese partners

German and French real estate investors ahead of year’s volume

Cromwell acquires freehold logistics asset for CEREIT

BoE policymaker show concerns over negative interest rates 

TOP STORIES

Hashdex, Nasdaq to launch the world’s first crypto asset exchange-traded fund

Hashdex Nasdaq deal_GBO_Image

Three million Class E shares will be issued for trade on the platform

Hashdex, a Brazilian IT company and Nasdaq has entered into a partnership to roll out the world’s first crypto asset exchange-traded fund (ETF), media reports said. The ETF will be launched on the Bermuda Stock Exchange (BSX).

The BSX granted the Hashdex Nasdaq crypto index earlier this month. It is reported that 3 million Class E shares will be issued for trade on the platform. The platform is expected to be operational by the end of this year. Moreover, Hashdex has chosen BSX due to Bermuda’s crypto-friendly rules and regulations.

Former Goldman Sachs executive and fund manager Raoul Pal, told the media, “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 dollars that pour into it. Every pension plan will allocate some money to it. Every family office will allocate some money to it. And the more the price goes up, the more they will allocate.”

ETFs are traded on stock exchanges, but they are purchased and sold on the same day. In other cases, they offer a regulated and insured vehicle for institutional investors and are similar to mutual fund investments.

It is reported that the policies and regulations related to the new launch will be revealed by Nasdaq on the product’s launch date.

The Brazilian company currently operates assets worth $46.4 million spanning four funds. The company has been growing exponentially in the past few years mainly because of its presence in the South American market.

Leave a Comment