The Brazilian exchange recently launched the first crypto ETF, HASH11, and it has already achieved impressive milestones within just two months of its launch. The ETF has an average daily trading volume of R$100 million, making it the second-largest ETF in terms of shareholders, with over 118,000 investors.
This suggests that investors see cryptocurrencies as a long-term asset class and consider the recent market correction as an opportunity to invest. The ETF was created by Hashdex, the largest manager in Latin America specializing in crypto assets, with approximately BRL 1.5 billion in equity.
HASH11 tracks the Nasdaq Crypto Index (NCI), which was developed in partnership with Nasdaq and has strict eligibility criteria. The index selects from over 5,000 existing cryptocurrencies those with the greatest potential for success, giving investors exposure to a diverse range of digital assets, mitigating risks, and increasing the possibility of return.
According to Hashdex CEO Marcelo Sampaio, it is difficult to predict which projects will have the most impact in the future, and the best way to have exposure to this market in the long term is through a basket of assets.
HASH11 is the first product aimed at retail investors that allocates 100% of its equity in crypto assets, and it can be accessed through any home broker. Previously, there was a significant gap between what was available to institutional investors and what was accessible to individuals and families. However, ETFs are now opening up the possibility of investing in a diversified basket of assets at low costs and with tax efficiency for investors around the world.
Bruno Caratori, Hashdex COO, believes that the launch of HASH11 is a milestone in the global cryptocurrency ecosystem and the Brazilian investment industry.
It solidifies the Brazilian capital market’s position as a pioneer in this new asset class, which is increasingly being adopted by the world’s largest players in the financial markets, such as Goldman Sachs and Blackrock.
Recently, Hashdex also entered the United States, where the manager’s funds will be distributed through a partnership with Victory Capital and Nasdaq.