Hashdex has launched its first crypto exchange-traded product (ETP) in Europe days after being approved as a recognised crypto issuer by the SIX Swiss Exchange.
The Hashdex Nasdaq Crypto Index Europe ETP (HASH) will list on the SIX Swiss Exchange on 2 May with a total expense ratio (TER) of 1.49%.
Tracking the Nasdaq Crypto Index Europe, HASH will track a basket of cryptocurrencies supported by digital asset exchanges and custodians approved by Nasdaq.
The ETP is currently made up of a basket of eight cryptocurrencies comprising bitcoin, ethereum, cardano, litecoin, polkadot, polygon and solana.
Last month, the crypto-focused asset manager appointed Laurent Kssis (pictured) as its managing director and head of Europe, responsible for leading the firm’s expansion on the continent.
Commenting on the launch, Kssis said: “We believe with this index and subsequently delivering this institutional-grade ETP, we have represented exactly what investors have been demanding by offering a product with diversified exposure that mitigates risk in crypto assets.”
Marcelo Sampaio, co-founder and CEO of Hashdex, added: “The launch of HASH is a major milestone for Hashdex as we continue to deliver on our mission of providing global investors with access to the crypto asset class.”
Jake Rapaport, head of digital asset index research at Nasdaq, said: “NCIE is an adaptable, rules-based industry benchmark that can accurately represent the investable cryptocurrency market and continue to evolve with the digital assets landscape.”