Brazilian Crypto Asset Manager Hashdex Approved to List ETPs in Switzerland

Hashdex, a Brazilian crypto asset manager, has been approved to list exchange-traded products (ETPs) on the SIX stock exchange in Switzerland.

• The firm unveiled its first such product, the Nasdaq Crypto Index ETF, in early 2021 followed by a decentralized finance (DeFi) ETF in February this year and a Web 3 fund in March.
• Approval from Zurich-listed SIX marks the first milestone for Hashdex's international expansion plans, with intentions to make its products available to the wider European market soon, according to an announcement Monday.
• The announcement also closely follows Hashdex's appointment of Laurent Kssis as its managing director and head of Europe. Kssis was previously a director of ETP provider 21Shares, the issuer of a number of crypto investment products on SIX.
• Hashdex is currently recruiting teams in London, Zurich, Paris and Lisbon to meet its expansion plans.
• While the U.S. Securities and Exchange Commission (SEC) has been notoriously sluggish in approving crypto ETFs, similar products have been blossoming in Europe. As of the start of March this year, 73 crypto ETPs had been approved in Europe with a total of $7 billion in assets.

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