Digital Asset Firm Hashdex to Launch Web3 ETF on the Brazilian Stock Exchange
Nicholas Otieno Mar 16, 2022 08:00
The Web 3 ETF (WEB311) will track Web 3 firms that are expected to benefit from technology infrastructure.
Hashdex, a global digital asset management firm headquartered in Brazil, announced Tuesday the upcoming launch of its Web3 ETF.
The company’s newest crypto ETF will be available on the Brazilian stock exchange, B3, under the ticker symbol WEB311 starting from March 30.
Hashdex developed the crypto ETF to offer a secure and diversified method for investing in Web3 and its underlying smart contract platforms.
Built-in partnership with CF Benchmarks, a major global digital asset market indices provider, WEB311 will replicate the “CF Web 3.0 Smart Contract Platforms Index”, which allocates to digital assets native to smart contract blockchains. The index’s largest holdings are Ether, Cardano, and Solana, each at roughly 22% as well as other assets in the index include Polkadot (19.5%), Algorand (8.8%), Tezos (3.5%) and Cosmos (1.1%).
Marcelo Sampaio, co-founder and CEO at Hashdex, talked about the development and said: “The WEB311 ETF not only provides exposure to the smart contract platforms underpinning Web3 but serves as an accessible and unique way to invest in projects that will be the main engine of the internet of the future.”
Meanwhile, Sui Chung, CEO of CF Benchmarks, also commented about the development and said: “The launch of the WEB311 ETF is a further proof of growing investor demand for regulated exposure to specific segments of the fast-maturing blockchain economy, demonstrating how our partners at Hashdex are committed to delivering innovation for both institutional and individual investors.”
Bridging Traditional Financial Market Access to Digital Assets
Early this month, Hashdex partnered with Nasdaq and therefore launched a twelve-part course designed to provide informative and educational resources for financial asset managers on the evolution of the digital asset ecosystem, investing considerations, regulation, taxes, and more. Due to increased interest among financial advisors in obtaining knowledge in the digital asset space, Hashdex unveiled the course to offer resources to empower the investment managers as they consider incorporating cryptocurrency into their investment strategies.
In January, Hashdex launched a decentralized finance ETF (DEFI11). The DeFi product offers diversified, safe, and regulated exposure across all segments of the DeFi ecosystem value chain. The ETF enables investors to invest in DeFi assets (including Unisawap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP) to enable them to get better benefits in the crypto market.
Last February, Hashdex launched the world’s first crypto exchange-traded fund (ETF), the Hashdex Nasdaq Crypto Index ETF. The fund, which is available for trading on the Bermuda Stock Exchange (BSX) for accredited non-U.S. investors, provides a simple solution for institutional investors to gain exposure to the cryptocurrency market.
Hashdex has more than 125,000 investors in its products globally and holds approximately $467 million under management.
Image source: Twitter/ Hashdex