The product seeks to offer diversified, safe, and regulated exposure across all segments of the DeFi ecosystem value chain. Applications to reserve the ETF began on 18 January 2022, and the product is expected to arrive on B3 in February.
Developed in partnership with CF Benchmarks, a leading global crypto index provider, DEFI11 will mirror the ‘CF DeFi Modified Composite Index’. This is an index that follows strict eligibility criteria to get the best representation of the DeFi market. Initially, the index should have a total of 12 assets, divided into three categories. First there are DeFi Protocols that offer practical and modern solutions for financial services: Unisawap, AAVE, Compound, Maker, Yearn, Curve, Synthetix and AMP. Second, there are Support Protocols, which assist DeFi protocols with data storage and query services, identity verification and scalability solutions: Polygon, Chainling and The Graph. Finally, there are Registry Platforms, blockchain in which transactions are validated and recorded. From this category, the selected one was the Ethereum network.
XP, Itaú BBA, and Banco Genial will be the coordinators of the offering of the new ETF, which will have a total management fee of 1.3%. The initial investment per share is expected to be approximately USD 9. This will be the fourth cryptoactive ETF that Hashdex makes available at B3. They also launched the first product of the modality in Brazil, HASH11. The fund invests in a basket of assets that seek to represent the best of the crypto market. Currently, the ETF has more than 125,000 investors and approximately USD 467 million under management.
