Hashdex will introduce the Web3 ETF in Brazil on March 30th

Hashdex will introduce the Web3 ETF in Brazil on March 30th

hashdex will put another crypto -related ETF on the Brazilian Stock Exchange B3, since its latest offer focuses on Web3.

The product, which is to be traded on March 30 under the ticker symbol web311, tries to replicate the CF Web 3.0 Smart Contract Platforms Index. The largest stocks of the index are ether, Cardano and Solana, each with around 22 %, which are assigned to digital assets that are native to Smart-Contract blockchains.

Other assets in the index are polar cadot (19.5 %), Algorand (8.8 %), Tezos (3.5 %) and Cosmos (1.1 %).

"The Web311 ETF not only offers access to the smart-contract platforms that are based on Web3, but also serves as an accessible and unique opportunity to invest in projects that will be the main motor of the future," said Marcelo Sampaio, CEO of Hashdex, in a explanation.

hashdex announced in January that it received the approval of setting up the world's first Defi-ETF (Defi11) and launched the fund in February.

"The main goal of Hashdex is to provide access to the most relevant investment theses in crypto via regulated financial products such as funds and ETFs," Samir Kerbage, Chief Technology Officer and product manager of the company, told block works. "[Web311 and Defi11] are aimed at the innovative investor who wants to have access to the crypto ecosystem in a regulated manner."

Although Kerbage refused to comment on certain products that the company could bring onto the market in the future, he noticed that Hashdex was planning to continue to introduce offers around the world.

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

hashdex has more than 250,000 investors in its products worldwide. Fidelity Digital Assets, Coinbase Custody and Bitgo keep the digital assets you have managed.

Although the US Securities and Exchange Commission has not yet approved ETFs that would invest directly in crypto systems, several US issues have applied for products that invest in companies that focus on Web3.

Simplify Asset Management proposed a Web3 ETF in January, while fund manager First trust Proshares and Fidelity Investments have announced plans in the past few months.

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The article Hashdex Set to Launch Web3 ETF in Brazil on March 30 is not a financial advice.