BITB Takes on NDEX with Lower Fees

BITB, an investment trust that holds Bitcoin directly in wallets controlled by the Trust, has cut its fees to become a more aggressive competitor for capital in Latin American markets. The September fee cut of 0.12% makes BITB a cheaper option than Hashdex's NDEX, which tracks the Nasdaq CME Crypto Index and includes a mix of assets such as Ethereum, XRP, and Solana.

NDEX holds 73.71% Bitcoin, but also contains other cryptocurrencies like Ethereum and XRP, making it a more diversified fund compared to BITB, which focuses entirely on Bitcoin. The BITB 1-month return reached 21.68%, while the NDEX 6-month return was 26.53%. However, BITB's 12-month return fell by 40.31%.

The increasing regulatory flexibility in Chile and Colombia may lead to more crypto index adoption, as these countries have seen significant growth in their pension assets. Mexico offers the most room for alternative assets, with the youngest SIEFOREs able to allocate up to 30% of their assets to structured instruments.