Industry Updates

Hashdex waives fee on Nasdaq crypto ETP

Asset manager will hold fee until it hits $1bn AUM

Theo Andrew

Crypto coins assets

Hashdex has waived the fee on its Nasdaq crypto exchange-traded product (ETP) until it reaches $1bn assets under management (AUM).

The $103m Hashdex Nasdaq Crypto Index Europe ETP (HASH) will see its total expense ratio (TER) cut from 1.49% to 0% until it hits the asset milestone.

It comes as several issuers in Europe have cut fees on their crypto ETPs following the race to launch the first spot bitcoin ETF in the US.

The rush to launch sparked a price war in Europe leading WisdomTree, Fidelity, Global X, Invesco, 21Shares and CoinShares to all lower their fees.

Marcelo Sampaio, co-founder and CEO at Hashdex, said: “The extraordinary opportunity inherent to holding assets across the crypto ecosystem calls for an equally extraordinary incentive.

“To that end, we made the decision to waive the fee for the HASH, inviting even more European investors to easily gain access to this dynamic and rapidly evolving asset class.”

Bruno Sousa, head of Europe at Hashdex, added: “We believe that the adoption we are seeing across investors will continue to accelerate and want to ensure that we are offering a way for these investors to gain exposure through a familiar and regulated ETP.

“That is why we have initiated this fee waiver, offering a new incentive that shows our commitment to the long-term interests of our clients.”

Listed on the Six Swiss Exchange, Deutsche Boerse, Euronext Paris and Euronext Amsterdam, HASH launched in April 2022 as the first ETP for the issuer.