Hashdex Expands Offerings to Europe With Latest Crypto ETP

The latest offering from Hashdex tracks the performance of the Nasdaq Crypto Index Europe, which tracks major cryptos, including bitcoin


Source: Shutterstock


key takeaways

  • The firm’s Nasdaq Crypto Index Europe ETP will trade on the SIX Swiss Exchange
  • The product which will track the performance of bitcoin, cardano and ether, among others

Crypto asset manager Hashdex has branched into the European market for the first time with its latest ETP that tracks an underlying basket of cryptocurrencies.

The Brazillian firm’s Nasdaq Crypto Index Europe ETP (exchange-traded product) will trade on the SIX Swiss Exchange under the ticker symbol SIX: HASH SW, beginning May 2, according to a Thursday statement.

It marks the manager’s first product available for European investors, a spokesperson confirmed to Blockworks. “The launch of HASH SW is a natural next step in Hashdex’s commitment to serving the region,” the spokesperson added.

Asset managers continue to roll out crypto-related exchange products and funds despite stalled upward market performance in recent months. Some managers are even seeking to launch products that take advantage of the trend reversal — including proposals for ETFs that short bitcoin.

Hashdex’s latest product tracks the performance of Nasdaq’s Crypto Index Europe (NCIE) which, in turn, tracks the showings of avalanche, bitcoin, cardano, ether, litecoin, polkadot, polygon and solana.

Hashdex and Nasdaq previously co-developed the Nasdaq Crypto Index. The NCIE is an extension of the effective methodology established by the NCI and has been tweaked to conform to eligibility requirements of European exchanges.

Ahead of its first ETP for the European market, Hashdex recently hired its inaugural managing director and head of Europe, Laurent Kssis, in March.

Kssis was formerly global head of ETPs at Swiss manager 21Shares, where he brought to market more than 25 crypto ETPs across several European regulated exchanges.

“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 cryptoassets,” Kssis said.

In February 2021, Hashdex launched the Hashdex Nasdaq Crypto ETF (HDEX), which tracks the Nasdaq Crypto Index on the Bermuda Stock Exchange. The Hashdex Nasdaq Crypto ETF became the world’s first crypto-based ETF and is currently available on the BSX to accredited non-US investors. 

Seeking to leverage Hashdex’s momentum, the first bitcoin futures ETF in the US to gain the SEC’s blessing under the Securities Act of 1933 may be seeking a name change from Teucrium Bitcoin Futures Fund to Hashdex Bitcoin Futures ETF.

It’s unclear what role Hashdex will play, though Bloomberg Intelligence ETF Analyst Eric Balchunas said last week the name change could signal a partnership similar to that between Ark Invest and 21Shares. 

In April 2021 Hashdex launched another version of its flagship fund, the Hashdex Nasdaq Crypto ETF, on Brazil’s B3 exchange. Hashdex followed up by partnering with Nasdaq and Victory Capital in August to launch a private fund tracking the performance of a basket of USD-traded cryptos available to US accredited investors.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png


With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.


The QT taper begins this month…but what does that mean for markets?


Plus, the rise of RWAs could bring about a significant shift in how real-world investments are managed and accessed


The distributed cell plan provider started selling its own hotspots in October 2023


The Brazil-based asset manager’s filing comes during a year of milestone bitcoin and ether fund approvals


The purchase of five sites in Georgia set to help CleanSpark hit its mid-year operating hash rate target of 20 EH/s


Plus, it’s beginning to look like we may be in for a cruel summer