US stock exchange NASDAQ has just launched the Hashdex Nasdaq Crypto Index ETF, which is based on the cryptocurrency index NCI.
This new crypto ETF, which can be traded by non-US accredited investors, will be listed on the Bermuda Stock Exchange (BSX). The launch of the tool reflects the interest of firms specializing in exchange-traded products in the traditional financial space and provides them with data to create cryptocurrency offerings. S&P Global and the Chicago Board Options Exchange (CBOE) have also previously announced they are working on indices that could form the basis of similar instruments in the future.
The development of the NASDAQ cryptocurrency index was initiated in July 2020. Brazilian investment manager Hashdex has also taken part in the process.
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Currently, the NASDAQ index includes six digital assets: Bitcoin, Ether, Litecoin, Bitcoin Cash, Chainlink and Stellar Lumens. Hashdex CEO Marcelo Sampaio said:
"The product should also accelerate the entry of institutional investors in crypto, a trend that has gained incredible momentum in the past months."