Brazil’s first ETF of cryptocurrency debuts high in B3 bean after recovering USD 112 million

Brazil’s most significant share price, B3, debuts this month’s April 26, its first collaboration to cryptocurrencies’ stock market (ETF).

The hashtag of mutual funds regulated by Hashdex, in association with Nasdaq, is launching the Hashdex Nasdaq Crypto Index Fund, an ETF that returns the price of six cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). The ETF is an apparent reference to the Nasdaq Crypto Index (NCI) and is trading at the ticker ‘HASH11’.

The Mobile Valuation Commission (CVM) of Brazil, the primary entity taxing the value of these countries, authorized the launch of Hashdex’s ETF cryptocurrencies in March of this year. The first Fund contributed to the ballot box with a digital money box debuting in the ballot box of São Paulo gained the chance to increase the fundraising expectations by 150%.

The First ETF of Cryptocurrencies in Brazil Enters the Market

During the reserve period with the coordinators ahead of the offer, the ETF managed a large sum that surpassed $ 615 million of Brazilian reals, around USD 112.8 million. This figure is pretty slow, reflecting around $ 250 million of real in its first projection. In a press release, the Hashdex company informed on the matter:

“The subscription fees realized by the authorized agents are fully integrated. After deducting the Commission of Instruction (Instruction), the net amount collected is used integrally in the issue of quotas in the Fund.”

The launch of this new currency represents a hit in various aspects; it is the first ETF of cryptocurrencies that appears in the stock market of Brazil. By the way, the total of funds raised now has become the fifth-largest ETF in B3’s patrimony.

According to Forbes Brasil, the offer met its liquidation on April 22, and the value of each fund action totaled R $ 50 (USD 9.18). The shares totaled R $47.02 corresponding to each activity, and R $2 98.

Previously, the banks Itaú, BTG Pactual, and Genial appeared as the official coordinators of the offer, with special participation from BB Investment. The other agents authorized to deal with the Fund are Necton, Safra Corretora, Vitreo, Tullet Prebon, MyCap Investimentos, Easynvest, Órama Investimentos, Mirae Asset Global Investments, Guide y Ativa Investimentos.

Bank of Brazil and cryptocurrency ETF

The ETF of cryptocurrencies launched by Hashdex in association with various banks is counting on the approval of the Commission of Values ​​Mobiliarios de Brasil (CVM) and converts the first of its kind in all Latin America.

According to information published by the Cointelegraph media and the Bank of Brazil, the ETF will count on the participation of Itaú, BTG Pactual and Genial, which will appear as official coordinators of the offer. This product is quotable in the Brazil Ball of Values ​​and receives the identification from the HASH11 ticket.

ETFs structure integrates its cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH), and Chainlink (LINK). Such a product was a creation between NASDAQ and Hashdex, as well as other interested parties.

By: Jenson Nuñez


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