In this week full of news in the Brazilian crypto market, we welcome you to Hashdex Nasdaq Bitcoin Reference Price Index Fund (BIT11), which becomes the fourth product of its kind to be launched in the B3.
With a launch ceremony this Thursday afternoon (5), BITH11 became the second index fund (or ETF) released by the Brazilian cryptoactives manager hashdex, also known for her background set that offer different types of exposure to the digital asset class.
BITH11 presents itself as an ETF with 100% exposure to bitcoin (BTC), which will operate in an ecologically responsible manner, replicating the performance of the index Nasdaq Bitcoin Reference Price (NQBTC), a fund constituted in the Cayman Islands and listed on the Bermuda Stock Exchange (BSX).
The new ETF seeks to neutralize carbon emissions resulting from investment in bitcoin, with attention to energy consumption in the process of cryptocurrency mining — in order to “soothe the hearts” of investors who care about the environment.
The German company Crypto Carbon Ratings Institute (CCRI) will produce annual reports with the calculation and estimates of energy consumption and carbon emissions related to the bitcoins acquired by the target index fund of the BITH11.
The limit for these acquisitions will be the amount equivalent to 0.15% per year of the fund’s average equity abroad.
In general, ETFs are traded on a stock exchange as if they were the stock of a company and help investors – which, in the case of the crypto market, may not have technical knowledge for open a brokerage account, create a digital wallet or constantly follow this market — to indirectly expose themselves to these assets and not be left out of this innovation.
According to Rogerio Santana, the relationship director at B3:
The new ETF offers investors exposure to variations in the world’s main digital asset, with all its growth potential and store of value, in a regulated, secure manner and under sustainability goals.
With the launch of this ETF, we will also increase the shelf of B3 ESG products available to the market.
At the listing ceremony, Roberta Antunes, Hashdex partner and one of the first women to speak at a product launch at B3, commented:
For us, the Hashdex team, the launch of this product is special and is fully aligned with our vision of a better future for all of us.
Much is said about bitcoin speculatively, but the reality is that bitcoin was born from the idea of using technology to create conditions for a fairer, more egalitarian world that creates for the individual the ability to store their own wealth, move values to any place on the planet, regardless of the country you live in, the political system to which you are subject, gender, color or social class to which you belong.
According to Roberta, Hashdex will also invest in sustainability projects in Brazil and worldwide.
Now, Brazilian investors have four cryptocurrency ETFs, also intended for general investors: HASH11, QBTC11, QETH11 and BIT11.
The expectation is that ETHE11, the ETF with 100% exposure to ether (ETH) from Hashdex, will also be listed on B3 in August.
Right now, the pre-market price of BITH11 is at US$50.74.
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