Hashdex attracts $26 million from Coinbase and SoftBank

The Brazilian asset manager Hashdex attracted $26 million from SoftBank, Coinbase Ventures and other investors. Bloomberg reports this, citing CEO Marcelo Sampaio.

The Hashdex CEO said the funding round was led by venture firm Valor Capital. The funds will be used to expand overseas. By the end of 2021 Hashdex plans to open new offices and grow its staff from 25 to 100 employees.

“Investors are still getting acquainted with cryptocurrencies; in Brazil we can offer them more products,” he added.

According to Valor Investe, Hashdex’s services are used by more than 150,000 clients, including shareholders of its own ETF. The company manages assets worth about $765.8 million.

Bloomberg analyst Eric Balchunas noted on Twitter that the average daily trading volume of Hashdex Nasdaq Crypto Index ETF shares reached $12 million.

Nice start for HASH11 (Brazil’s first and only crypto ETF, which holds basket of them). $12m/day is big number for BZ (esp for new launch). It’s already in same league as $BTCC h/t @BRSHashdex pic.twitter.com/mZACMSusMR

— Eric Balchunas (@EricBalchunas) May 10, 2021

Earlier, Hashdex, in partnership with Nasdaq, launched cryptocurrency ETF on the Bermuda Stock Exchange.

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