Brazil Launches First Eco-Friendly Bitcoin ETF (BITH11)

Brazil Launches First Eco-Friendly Bitcoin ETF (BITH11)

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2021-08-08 21:45:47

Brazil just launched its first green and eco-friendly Bitcoin ETF – BITH11. Accordingly, there are currently a total of 4 crypto-related ETFs that are allowed to be traded on the stock market.

Brazil Launches First Eco-Friendly Bitcoin ETF (BITH11)

Brazil continues to make new strides in creating new crypto-related investment opportunities. In more detail, this past week, the country launched a brand new Bitcoin ETF with the mark of being completely green, clean and environmentally friendly. Under the code BITH11, the Hashdex Nasdaq Bitcoin Reference Price replicates the performance of the Nasdaq Bitcoin Reference Price Index.

Accordingly, this will be the second ETF authorized in Brazil that provides 100% exposure to Bitcoin. This investment product is expected to compete with the recently approved CME CFQR (QBTC11) Bitcoin reference rate.

This “green” Bitcoin ETF in Brazil will use the German Cryptocurrency Carbon Rating Institute (CCRI) audits to determine the environmental impact of BITH11 investments. Besides, it allows investors to deduct 0.15% of their liquid assets into carbon credits and eco-friendly technologies each year.

Rogerio Santana, Director of B3 – Brazil’s main stock exchange – emphasized the importance of this initiative. Because in addition to complying with national legal regulations, BITH11 also promotes a positive impact not only on the industry but also on the entire ecosystem. He also boasts that Brazil has one of the most extensive crypto investment offerings in the entire region.

“The new ETF offers investors exposure to variations of the world’s leading digital asset, with all its growth potential and store of value, in a regulated manner, safe and sustainable… With the introduction of this ETF, we will also increase B3’s range of ESG Products available in the market.”

This will be the second ETF managed by Hashdex. The first index is the HASH11 (Hashdex Nasdaq Crypto Index), which copies the performance of the Nasdaq Cryptocurrency Index (NCI). The NCI Index tracks “a basket” of different cryptocurrencies like Bitcoin BTC); Ethereum (ETH); Bitcoin Cash (BCH); Chainlink (LINK) and Stellar Lumens (XLM)

Not only that, but a few days ago, the first 100% Ethereum ETF was also approved.

In addition to this offering, a few days ago, the first 100% Ethereum ETF was also approved. The reference rate follows Ether CME CF QR (QETH11), an ETF product managed by asset management QR Assets.

In many ways, both Hashdex and QR Assets control the cryptocurrency ETF market in Brazil. At the same time, both of these investment firms have also positioned Brazil as a country known for having the most diversified exposure to crypto ETFs.

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