certify
Home arrow Article arrow Article Detail

Brazil's First cryptocurrency ETF has raised more than $100 million

Profile Image

Shivangi Mujumdar Follow

INDIA

May, 05 2021

May, 05 2021

likes | comments 0

Article Image

According to the en.cryptonomist.ch, the content speaks that- The first bitcoin ETF launched on the Brazilian fair has previously higher 615.3 million Brazilian reais, or around $112 million. 

 

This was declared by the issuing company by its own, Hashdex, with a tweet on its authorized profile in which it also discloses that it is now the fifth-largest Brazilian ETF by a sum of shareholders. 

 

The fund is named Hashdex Nasdaq Crypto Index ETF (HASH11) and reproduces the performance of the Nasdaq Crypto Index. 

 

Its portfolio essentially comprises 22.9% Ethereum, 72.7% bitcoin, and the outstanding 4.4% a mix of ChainLinkLitecoinBitcoin Cash and Stellar. 

 

The market launch was in mid-February, but it has previously developed the fifth-largest fund on the Brazilian stock exchange, with over 80% of requirements made by individuals. Trading on the Brazilian stock exchange initiates today. 

 

Dimensions of the Brazilian Bitcoin ETF 

 In a letter sent to patrons on Friday, Hashdex stated that primary issuances of the fund’s units elevated 615,250,700 reais, with 28,358 wishes received before the exchange’s debut. A whole of 12,305,014 shares was distributed, with a worth of 47.02 reais per share, and an access fee of 2.98 reais per share, for an entire cost of 50 reais. 

 

The management fee is 0.3% per annum. 

 

Banco Genial is one of the leading coordinators and managers, along with Itaú BBA and BTG Pactual. 

 

The volume elevated was almost three times the lowest desired worth of 250 million reais, which demonstrates the great interest of Brazilian investors in this kind of financial product. 

The only Brazilian ETFs that outpace HASH11 in expressions of several investors are IVVB11, which monitors the S&P 500, BOVA11. 

 

The purpose is to deliver small investors involved in cryptocurrencies with a stress-free investment substitute, available on any home broker. 

 

In fact, for an instant, small investors in Brazil only have the right of entry to financial products based on cryptocurrencies through investment funds, which spread at higher rates than ETFs and have low percentages of acquaintance to cryptocurrencies (20%). 


likes | comments 0

Profile Image

Shivangi Mujumdar

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Nasdaq to Launch Crypto Custody Services by End of Q2

According to a story that was published on Friday by Bloomberg, Nasdaq (NDAQ) is planning to launch its cryptocurrency custody services by the end of the second quarter..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.