Brazil launches world’s first DeFi token-focused ETFs

Asset managers Hashdex and QR Capital announced the listing on the B3 stock exchange (São Paulo) ETF, tracking the performance of the CF DeFi Composite Index and the Galaxy DeFi Index, respectively.

DEFI11 by Hashdex formed three sub-portfolios, reflecting the full value chain underpinning DeFi:

• DeFi protocols: Uniswap (23.29%), Aave (9.15%), Compound (3.29%), MakerDAO (7.71%), yEarn.Finance (2.21%), Curve (11.63%), Synthetix (2.78%) and Amp (9.94%);
• service protocols — oracle networks and scaling solutions: Chainlink (5.72%), The Graph (3.38%) and Polygon (5.90%);
• base blockchain: Ethereum (15%).

Custodians of Hashdex’s products are Fidelity Digital Assets, Coinbase Custody and BitGo. Assets under management by the company surpassed surpassed $1 billion.

Into the QDFI11 basket from QR Capital included Uniswap (40%), Aave (14.612%), MakerDAO (12.381%), Curve (9.658%), yEarn.Finance (6.459%), Compound (5.953%), SushiSwap (4.006%), Synthetix (3.655%) and 0x (3.275%).

Unlike DEFI11, which was listed on February 17, trading of QDFI11 began on December 8, 2021.

🔴 BREAKING: QDFI11 leads the pack, is listed on the stock exchange and becomes the world’s first DeFi ETF.

Launched by QR Asset Management, the asset-management arm of the QR Capital group, QDFI11 uses the Bloomberg Galaxy DeFi Index as its benchmark.

— QR Capital (@qrcapital) February 8, 2022

As of writing, investors had poured 38.75 million Brazilian reais (~$7.55 million) into QDFI11. Across all of the firm’s funds, AUM totals more than $145 million.

In December 2021, B3 announced the launch of cryptocurrency products .

Brazil became the second in the world to approve a Bitcoin ETF. Subsequently, the local regulator allowed trading Ethereum-ETF.

Earlier, Hashdex gained a listing for an exchange-traded fund on the Bermuda Stock Exchange, based on the Nasdaq index NCI. Subsequently, Victory Capital announced the launch of crypto funds for accredited investors based on Hashdex and Nasdaq indices.

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