The digital asset management firm, Hashdex, has just filed a 19b-4 with the NYSE, radically repositioning its DeFi ETF into a full-fledged Bitcoin ETF. This move is done without leaning on Coinbase’s Supervisory Sharing Agreement (SSA). Let’s begin by appreciating the dramatic rebranding: the DeFi ETF is no more, and in its place stands the Hashdex Bitcoin ETF. Hashdex is changing its core strategy to hold spot bitcoin directly.