Nasdaq’s bitcoin index-based ETF debuted on the São Paulo stock exchange

Key facts:

The Hashdex Nasdaq Crypto Index ETF (HNCI) was launched on April 26 in Brazil.

In its debut, HNCI was the second largest ETF in transactions and third in volume traded.

A bitcoin ETF began trading on B3, the São Paulo Stock Exchange, on April 26. The launch of this ETF comes from an alliance between the Brazilian brokerage company Hashdex and Nasdaq. The new instrument follows the Nasdaq index of bitcoin and other cryptocurrencies, dubbed the Crypto Index (NCI).

The ETF is called the Hashdex Nasdaq Crypto Index Fund (HNCI) and allows 100% exposure to a basket of cryptocurrencies. The investment instrument, with the ticker HASH11, debuted with a volume of 615 million reais (USD 113 million). The asset basket includes the cryptocurrencies Bitcoin, Ethereum, Litecoin, Bitcoin Cash, LINK, and Stellar Lumens.

HASH11 was created to democratize access to investing in cryptocurrencies, in an environment in which the investor feels comfortable. We hope that, with the maturing of the market and greater ease of access to this asset class within a regulated environment, more and more investors will be able to have exposure to this asset in Brazil.

Roberta Antunes, Hashdex Growth Manager.

Hashdex reported that the first cryptocurrency ETF in Brazil raised BRL 615.25 million in its primary issue, equivalent to USD 113 million. “The result was well above expectations, exceeding almost three times the minimum financing that the administrator had set as a goal in its prospect, of BRL 250 million,” said Marcelo Sampaio, CEO of Hashdex.

HNCI was announced on March 17 by Samir Kerbage, CTO of Hashdex, a fact that was reported by CriptoNoticias. On March 24, through an agreement with Purpose Investments, the firm that launched the first bitcoin ETF in North America, this instrument began trading on the Santiago Stock Exchange.