Hashdex Set To Launch Web3 ETF in Brazil on March 30

The upcoming launch will follow the cryptoasset manager’s launch of a DeFi ETF in February

article-image

Blockworks Exclusive art by axel rangel

share

key takeaways

  • The fund will allocate to digital assets native to smart contract blockchains such as Ethereum, Cardano and Solana
  • Hashdex has more than 250,000 investors in its products globally

Hashdex is set to launch another crypto-related ETF on the Brazilian stock exchange B3, as its latest offering focuses on Web3.

The product, set to begin trading on March 30 under ticker symbol WEB311, seeks to replicate the CF Web 3.0 Smart Contract Platforms Index. Allocating to digital assets native to smart contract blockchains, the index’s largest holdings are ether, cardano and solana, each at roughly 22%.

Other assets in the index include polkadot (19.5%), algorand (8.8%), tezos (3.5%) and cosmos (1.1%).

“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,” Hashdex CEO Marcelo Sampaio said in a statement.

Hashdex announced in January that it had gained approval to launch the world’s first DeFi ETF (DEFI11) and brought the fund to market in February.

“Hashdex’s main goal is to provide exposure to the most relevant investment thesis in crypto via regulated financial products like funds and ETFs,” Samir Kerbage, the firm’s chief technology officer and head of product told Blockworks. “[WEB311 and DEFI11] are aimed at the innovative investor who wants to have exposure to the crypto ecosystem in a regulated way.”

Though Kerbage declined to comment on specific products the firm could seek to launch in the future, he noted that Hashdex plans to continue launching offerings around the world.

The cryptoasset manager launched the world’s first crypto index ETF, the Hashdex Nasdaq Crypto Index ETF, in February 2021. The fund trades on the Bermuda Stock Exchange (BSX) and is for accredited non-US investors.

Hashdex has more than 250,000 investors in its products globally. Fidelity Digital Assets, Coinbase Custody and BitGo custody the digital assets it manages.

Although the US Securities and Exchange Commission has not yet approved ETFs that would invest in cryptoassets directly, several US issuers have filed for products investing in companies focused on Web3. 

Simplify Asset Management proposed a Web3 ETF in January, while fund managers First Trust, ProShares and Fidelity Investments have revealed plans in recent months to offer metaverse ETFs.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

HYATT REGENCY SALT LAKE CITY

TUES, OCT. 8, 2024

Guided by the expertise of Blockworks Research Analysts team, this one day event will feature senior leaders, entrepreneurs, and developers from across the crypto industry. Attendees will have the opportunity to participate in an immersive experience to explore the latest trends, […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

hivemapper.jpeg

Research

We believe crypto market participants overlook Hivemapper’s fundamental potential due to a poor understanding of both the niche map data market and Hivemapper’s positioning relative to incumbents. Hivemapper’s token model catalyzes both a cost and product advantage via unmatched map freshness and near real-time accuracy, which is its wedge into a market characterized by stale data and high data collection costs. Its current and potential future product suite may represent one of the strongest possibilities for PMF in crypto today.

article-image

👨‍⚖️ SBF’s courtroom sequel: Plus, Coinbase’s legal loss was DeFi’s gain

article-image

Public mining companies have been acquiring sites, refreshing machine fleets and diversifying business models in preparation for the event

article-image

Exploit shows centralization can sometimes be an asset

article-image

The Fidelity Ethereum Fund, like other proposed ETH ETFs, seeks to stake a portion of its assets, according to the firm’s Wednesday registration statement

article-image

The DAO first voted on enabling SAFE transfers over a year ago