The Hashdex Nasdaq Ethereum Reference Price Index Fund (ETHE11) debuts today on the Brazilian stock exchange, a new ETF with 100% exposure to cryptocurrency etherum, from the Rio de Janeiro manager Hashdex. The booking period ended last Friday.
The ethereum (ETH) is the second largest cryptocurrency in the world and the second largest cryptoactive in terms of market volume.
The Ethereum blockchain token climbed hard in recent weeks, surpassing the level of US$ 3,000 (quoted at US$ 3,036 around 7:00 pm this Tuesday) in the wake of the high bitcoin and also as a reflection of a recent update in the network, known as “London Fork”, which tends to increase scalability and reduce costs.
This will be the third ETF launched in Brazil by Hashdex, which previously listed on B3 the HASH11, famous for being the first cryptoactive ETF in the country, in the first half of the year, and which has become one of the index funds with the highest funding on the Brazilian stock exchange since then. Earlier this month, the manager also launched the BITH11, a product with 100% exposure to bitcoin and a sustainable footprint.
- Read also: Companies in Brazil are starting to invest in bitcoin, but adoption is still shy in the country
Similar to the architecture behind the products already listed, the new 100% ethereum ETF will mirror an overseas fund called the Hashdex Nasdaq Ethereum ETF, which in turn reflects a composite ethereum index.
XP, Itaú BBA and Banco Genial will be the coordinators of the offer of the new ETF, which will have 0.7% administration fee, already including local and foreign ETF rates. The prediction is that the minimum value for initial application per share is just above BRL 50.
Launch expands menu of crypto ETFs at B3
With the release, the number of cryptocurrency ETFs available on the exchange reaches five Brazilian, the B3.
In addition to the three products launched by Hashdex, the manager QR Asset Management, also from Rio, recently launched two ETFs dedicated to cryptoactives: QBTC11, with 100% exposure to bitcoin, and QETH11, pioneer ETF with 100% exposure to etherum.
Check out the five cryptoactive ETFs currently available on the Brazilian stock exchange.
Cryptoactive ETFs on the Brazilian stock exchange
|Code||Manager||Exposure||Administration fee||where is it available|
|BIT11||hashdex||100% bitcoin||0.7% pa (+ up to 0.15% pa in costs to neutralize carbon emissions)||B3 and investment platforms|
|ETHE11||hashdex||100% etherum||0.7% pa||Opens on August 18th|
|HASH11||hashdex||Basket of cryptoactives; currently there are eight (bitcoin, ethereum, stellar, litecoin, bitcoin cash, Chainlink, Filecoin and Uniswap)||1.3% pa||B3 and investment platforms|
|QBTC11||QR Asset Management||100% bitcoin||0.75% pa||B3 and investment platforms|
|QETH11||QR Asset Management||100% etherum||0.75% pa||B3 and investment platforms|
ETF 100% ethereum debuts today at B3; see the entire ‘crypto menu’ in the bag — Photo: Getty Images