Hashdex, a worldwide crypto asset management, has announced the acceptance of the first DeFi exchange-traded fund in the world (ETF).
On February 17th, the ETF will be launched on the Brazilian stock exchange, B3, with the ticker name DEFI11.
Twelve assets shared in three sub-portfolios
Crypto ETFs are investment vehicles registered on stock exchanges that track the price of one or more cryptocurrencies. They provide an indirect, but regulated, exposure to the market.
“As Latin America’s biggest crypto asset manager, Hashdex continues to fulfil its aim of assisting individuals all over the world in better understanding and diversifying their exposure to the crypto asset class,” stated Marcelo Sampaio, Hashdex’s CEO.
DEFI11 will mirror the “CF DeFi Composite Index” in collaboration with CF Benchmarks, a renowned worldwide crypto index provider.
We’re to proud to partner with @hashdex again to launch DEFI11 – Brazil’s 1st #DeFi ETF!DEFI11 will track CF DeFi Modified Composite Index, one of our newest regulated benchmarks. DETAILS 👇https://t.co/q1zD9Sv49g pic.twitter.com/VH4L3Us6uF— CF Benchmarks (@CFBenchmarks) January 19, 2022
The index “follows tight qualifying requirements to provide the greatest depiction of the DeFi phenomena,” according to the statement. The index comprises a total of 12 assets divided into three sub-portfolios to reflect all of the primary components that make up the DeFi ecosystem.
The first sub-portfolio includes major dApps such as Uniswap, AAVE, Compound, Maker, Yearn, Curve, Synthetix, and AMP. The second sub-portfolio, which includes Chainlink, The Graph, and Polygon, comprises service protocols and scaling solutions.
Finally, Ethereum is included in the third sub-portfolio as a settlement network.
Sui Chung, CEO of CF Benchmarks, a Kraken wholly-owned subsidiary, said:
“The CF DeFi Composite index is the first to be driven by the CF Digital Asset Classification Structure (DACS) and we are very excited to be able to bring these methodologies to the investment community to further their understanding of the blockchain economy and enable smarter allocation decisions to a greater range of digital assets,”
Taking the lead on institutional adoption
Hashdex presently has over 250.000 investors in its products, with Fidelity Digital Assets, Coinbase Custody, and Bitgo Trust serving as custodians of crypto under its administration.
Sampaio continued:
“We are confident that DeFi, through its innovative and disruptive technology, will exponentially grow and play a vital role in the financial sector of the future. By offering the first DeFi ETF in the world, we are providing our global investors with the ability to play a part in the next evolution of the crypto ecosystem,”
Hashdex is a Nasdaq exclusive partner who co-developed the Nasdaq Crypto Index (NCI), a benchmark for institutional investing that measures the performance of a large chunk of the crypto market. Some of the world’s first crypto ETFs, such as the Hashdex-Nasdaq Crypto Index ETF, have already been created by the business (HASH11).
