DEFI
Hashdex Bitcoin Futures ETF
Price exposure to the world's first decentralized digital currency.
Contact UsNAV Pricing
USD 54.23
As of December 8, 2023
Closing Price
USD 54.06
As of December 8, 2023
Shares Outstanding
50,000
As of December 11, 2023
Total Net Assets
USD 2,711,735.00
As of December 11, 2023
About the Product
The Hashdex Bitcoin Futures ETF ("Fund") is sponsored by Teucrium Trading, LLC and provides price exposure to bitcoin through a regulated exchange-traded fund. Bitcoin allows users to send and receive payments across the world, without needing a centralized authority to guarantee the transactions.
The Fund does not invest directly in bitcoin, but provides price exposure to the crypto asset through bitcoin futures contracts. This gives investors the opportunity to capitalize on its growth potential, store of value characteristics, and the prospect of a decentralized future, without the complexity of self custody.
Learn MoreSimple
An easy way to gain access to bitcoin through a cost-effective and regulated exchange-traded fund.
Fund terms and key facts
Ticker
DEFI
CUSIP
88166A805
Inception Date
9/15/2022
Exchange availability
NYSE
IIV
DEFI.IV
Benchmark Index
HDEFI – Hashdex U.S. Bitcoin Futures Fund Benchmark Index
Expense Ratio
0.94%**
ISIN
US88166A8053
Options
Not currently available
Service Providers
Administrator
U.S. Bank Global Fund Services
Distributor
Foreside Fund Services, LLC
| Name | Shares | Price | Weight |
|---|---|---|---|
CME Bitcoin Fut Jan24 | 6 | 45,440 | 50.27% |
CME Bitcoin Fut Dec23 | 6 | 44,910 | 49.68% |
Cash & Other | 2,711,957.37 | 1 | - |
| 1M | 3M | YTD | 1Y | Since inception | |
|---|---|---|---|---|---|
| DEFI (Market Price) | 22.95% | 67.52% | 152.73% | 144.95% | 116.24% |
| DEFI (NAV) | 23.36% | 67.89% | 153.41% | 145.83% | 116.92% |
| NAV | Market Price | Difference | Premium / Discount |
|---|---|---|---|
| 54.23 | 54.06 | -0.17 | -0.32% |
| Q3 2022 | Q4 2022 | 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Days Traded at NAV | 4 | 5 | 9 | 2 | 11 | 6 | 7 | 26 |
| Days Traded at Premium | 3 | 27 | 30 | 32 | 32 | 37 | 27 | 128 |
| Days Traded at Discount | 5 | 31 | 36 | 28 | 19 | 20 | 15 | 82 |
FAQs
Glossary
How is this product different from other ETFs that invest in bitcoin futures contracts?The Hashdex Bitcoin Futures ETF is the first bitcoin futures ETF regulated under the 1933 Securities Act (‘33 Act). Exchange-traded products regulated under the ‘33 Act provide a level of operational diligence, disclosure, and investor protection consistent with ETFs regulated under the Investment Company Act of 1940, while also having some key differences that make ‘33 Act funds more appropriate for many investors, including tax efficiency and 100% exposure to the underlying crypto assets.
How does Bitcoin work?Attempts to create an internet-based “digital cash” began in the 1990s, but each had shortcomings that prevented them from becoming mainstream. This changed after the pseudonymous Satoshi Nakamoto released “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008, describing a new protocol for exchanging value without a bank, government, or other third party. The network launched a few months after the paper’s release and the first bitcoin transaction took place on January 12, 2009. Bitcoin, with its combination of technological tools and economic incentives, promised a new, more equitable financial system.
What is a blockchain?The simplest definition of a blockchain is a decentralized public ledger where transactions are confirmed by a network of compensated participants. Bitcoin’s blockchain was a novel idea due to the combination of technologies used to create a truly decentralized and immutable public ledger. Previously, financial transactions were dependent on banks and other entities managing both sides of the transaction, including maintaining personal information about the parties and placing restrictions on certain transactions.
Why bitcoin futures?Investor demand for bitcoin products has accelerated in recent years, but there has not been regulatory approval for a spot bitcoin ETF in the U.S. We believe the Hashdex Bitcoin Futures ETF will help many investors gain access to bitcoin in a simple and regulated way.
What are the benefits of an ETF vs buying bitcoin directly?Directly investing in crypto assets can include challenges such as self-custody and risks like exchange hacks and theft. ETFs are renowned for their efficiency and popularity as vehicles to access various markets and investment themes. They are structured in a manner that can offer superior liquidity and price efficiencies compared to other investment products.
