Tidal and Hashdex have announced the conversion of their bitcoin futures ETF into a spot bitcoin ETF, marking a significant development in the cryptocurrency investment landscape. The newly converted Hashdex Bitcoin ETF, which directly holds Bitcoin and tracks a new index, began trading on March 27, 2024, effective the same day. This launch brings the total number of spot bitcoin ETFs in the U.S. market to 11, with Hashdex's offering trading under the ticker $DEFI. The conversion and launch, approved by the SEC in early January, were reported by multiple sources, highlighting the growing acceptance of cryptocurrency-based financial products.