World’s first DeFi ETF to be listed on the Brazilian stock exchange in February 🚨 This article is 3 years old...
World’s first DeFi ETF to be listed on the Brazilian stock exchange in February
The largest crypto asset manager in Latin America to offer investors a secure and regulated entry to DeFi.
2 min read
Updated: Jun. 30, 2023 at 10:34 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Hashdex, a global crypto-focused asset manager recently announced the approval of the world’s first DeFi exchange traded fund (ETF).
The ETF will be listed on the Brazilian stock exchange, B3, under the ticker symbol DEFI11 on February 17th.
12 assets in three sub-portfolios
Crypto ETFs typically track the price of one or more cryptocurrencies, and as investment vehicles listed on stock exchanges leverage an indirect, however regulated exposure to the market.
“As the largest crypto asset manager in Latin America, Hashdex continues to deliver on our mission of helping people around the world better understand and gain diversified exposure to the crypto asset class,” said Marcelo Sampaio, CEO of Hashdex.
In partnership with CF Benchmarks, a leading global crypto index provider, DEFI11 will mirror the “CF DeFi Composite Index.”
We're to proud to partner with @hashdex again to launch DEFI11 – Brazil's 1st #DeFi ETF!
DEFI11 will track CF DeFi Modified Composite Index, one of our newest regulated benchmarks. DETAILS 👇https://t.co/q1zD9Sv49g pic.twitter.com/VH4L3Us6uF
— CF Benchmarks (@CFBenchmarks) January 19, 2022
According to the announcement, the index “follows strict eligibility criteria to obtain the best representation of the DeFi phenomenon.”
To reflect all the major components underpinning the DeFi ecosystem, the index has a total of 12 assets grouped into three sub-portfolios.
Major dApps including Uniswap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP belong to the first sub-portfolio.
With Chainlink, The Graph, and Polygon, the second sub-portfolio consists of service protocols and scalability solutions.
Finally, Ethereum as a settlement network belongs to the third sub-portfolio.
Sui Chung, CEO of CF Benchmarks–a wholly-owned subsidiary of Kraken commented:
“The CF DeFi Composite index is the first to be driven by the CF Digital Asset Classification Structure (DACS) and we are very excited to be able to bring these methodologies to the investment community to further their understanding of the blockchain economy and enable smarter allocation decisions to a greater range of digital assets,”
Spearheading institutional adoption
With Fidelity Digital Assets, Coinbase Custody, and Bitgo Trust serving as custodians of crypto under its management, Hashdex currently has more than 250.000 investors globally in its products.
Sampaio added:
“We are confident that DeFi, through its innovative and disruptive technology, will exponentially grow and play a vital role in the financial sector of the future. By offering the first DeFi ETF in the world, we are providing our global investors with the ability to play a part in the next evolution of the crypto ecosystem,”
Hashdex is an exclusive partner of Nasdaq and co-developed the Nasdaq Crypto Index (NCI), designed to measure the performance of a significant portion of the crypto market–providing a benchmark for institutional investment.
The company already launched some of the world’s first crypto ETFs, including the Hashdex-Nasdaq Crypto Index ETF (HASH11).
