The Bank of Brazil (Banco do Brasil) is going to offer its customers the possibility of buying the crypto ETF of Hashdex, with the “HASH11” ticker. Hashdex has already acquired the support of two leading Brazilian Banks Itaú and BTG Pactual. With its latest move, Banco do Brasil becomes the first public bank in the world to offer such kind of exposure.
Bank of Brazil’s Customers Could Invest in Hashdex Crypto ETF
The customers of Bank of Brazil could now invest in the Hashdex crypto ETF set to launch on April 26. Following the official launch, HASH11 will be tradable through the Brazil Stock Exchange.
Subscription orders can be made until April 20, and the only ones who can be able to do it are authorized agents “who can do this on their own behalf or behalf of customers.” says Hashdex.
Coordinated by Itaú, BTG Pactual, and Genial, the Hashdex Nasdaq Crypto Index (HASH11) is composed of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), Bitcoin Cash (BCH), and Stellar (XLM).
The Hashdex 100 fund is limited to Brazilian investors holding over 10 million Brazilian real or $1.79 million in financial markets investments.
Brazilian Investment Bank Launches Bitcoin ETF
Earlier last month, the Brazilian Securities and Exchange Commission (CVM) announced approving two cryptocurrency exchange-traded funds (ETFs) in the country.
The first crypto ETF comprises 100% in Bitcoin (BTC) managed by QR Asset Management. The second ETF will be managed by Hashdex comprising a basket of five cryptocurrencies.
Meanwhile, the BTG Pactual’s Bitcoin 20 Multi-Market Investment Fund became the first fund to be launched by the Brazilian investment bank to offer exposure to the leading cryptocurrency.
The fund invests 20% of its assets under management into Bitcoin, with Gemini offering custody services for the coins. The fund further allocates 55% of its AUM into treasury bonds, 20% into bank deposit certificates, and 5% into repo operations.