According to CryptoPotato, on March 26, Hashdex announced that it would rename the Hashdex Bitcoin Futures ETF to the Hashdex Bitcoin ETF, with the trading code 'DEFI'. The move to convert futures funds into spot ETFs was done in partnership with Tidal Investments LLC. DEFI has completed a switch to its investment strategy, allowing the fund to hold spot Bitcoin and track the Nasdaq Bitcoin Reference Price. Hashdex has now become the 11th asset manager to launch a physical Bitcoin ETF this year, entering a crowded market dominated by two giants. Currently, BlackRock and Fidelity dominate the spot BTC ETF market, with a total of $20 billion in assets under management. The new Hashdex products and strategies will invest a minimum of 95% of assets in spot Bitcoin and a maximum of 5% in CME-traded BTC futures and cash equivalents.