New ETF with 100% Ethereum exposure debuts at B3; Exchange reaches 5 cryptocurrency ETFs

SAO PAULO – In a wave of new products related to cryptocurrencies in the Brazilian market, the fifth digital currency index fund (ETF) of B3 debuts this Thursday (18th), the second with exposure of 100 % to Ether (the Ethereum network token).

Created by the Hashdex manager, the Hashdex Nasdaq Ethereum Reference Price will be traded with the code ETHE11. It has a starting price of R$50, with an administration fee of 0.7% per year.

This ETF will mirror the Hashdex Nasdaq Ethereum ETF, a fund set up in the Cayman Islands that offers investors exposure to Ether. This fund, in turn, aims to replicate the Nasdaq Ethereum Reference Price (NQETH), an index developed by Nasdaq to calculate the Ether price in real time.

“Ethereum is one of the main platforms that serve as the basis for a new evolution of the internet, the so-called Web 3.0. Its token, the Ether, is the fuel that drives this new internet and has great potential for value as the technology evolves and its adoption increases,” said Samir Kerbage, CTO of Hashdex, in a press release.

Hashdex was the first manager to launch a cryptocurrency ETF in Brazil, HASH11, which reflects a basket of digital currencies and undergoes quarterly rebalancing. In addition, this month they released BIT11, called Brazil’s first green Bitcoin ETF.

According to the manager, BITH11 was developed with the intention of neutralizing carbon emissions resulting from investment in Bitcoin.

Other crypto ETFs

The Brazilian also has two more cryptocurrency ETFs available on the market, both from QR Capital.

Launched in July, QBTC11 was the first ETF in Latin America with 100% exposure to Bitcoin. With an administration fee of 0.75% per year, the product replicates the CME CF Bitcoin Reference Rate, a reference for Bitcoin futures contracts traded by the American exchange “Chicago Mercantile Exchange Group”.

Earlier this month, the manager launched QETH11, the first ETF in Latin America with 100% exposure to the Ethereum currency. It also has an administration fee of 0.75% per year and seeks to replicate the performance of the CME CF Ether Reference Rate, which tracks the price of Ether in dollars.

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