2 years ago
This nonfiction is adapted from CoinDesk Brasil, a concern betwixt CoinDesk and InfoMoney, 1 of Brazil's starring fiscal quality publications. Follow CoinDesk Brasil on Twitter.
Brazil-based crypto plus manager Hashdex plans to motorboat a Web 3 exchange-traded money (ETF) connected the Brazilian banal speech B3 connected March 30, the institution announced Monday.
Initial orders for the ETF, which volition commercialized nether the ticker WEB311, began connected Monday and volition past until March 25, Hashdex said. It estimates the starting stock terms volition beryllium $9.72.
The fund, developed successful concern with planetary crypto scale supplier CF Benchmarks, volition reflector the CF Web 3.0 Smart Contract Platforms Market Cap Index, which contains integer assets autochthonal to astute declaration blockchains Ethereum (ETH), Cardano (ADA), Solana (SOL), Polkadot (DOT), Algorand (ALGO), Tezos (XTZ) and Cosmos (ATOM). It volition not put successful equities.
According to Hashdex, WEB311 is the “world’s archetypal ETF that invests solely of integer assets autochthonal to astute declaration blockchain networks.”
Banco Genial, Itaú BBA, XP Investimentos and BTG Pactual volition coordinate the offering of WEB311, with a full absorption interest of 1.3%, Hashdex said.
“The WEB311 ETF not lone provides vulnerability to the astute declaration platforms underpinning Web 3, but serves arsenic an accessible and unsocial mode to put successful projects that volition beryllium the main motor of the net of the future,” said Hashdex co-founder and CEO, Marcelo Sampaio.
This nonfiction was translated by Andrés Engler, and edited by CoinDesk. The archetypal Portuguese tin beryllium recovered here.
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Paulo Alves is simply a crypto exertion astatine InfoMoney, a starring fiscal quality work successful Brazil.
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