Crypto asset manager Hashdex goes live with web3 ETF

Crypto asset manager Hashdex launched a Web3 exchange-traded fund (ETF) Thursday on Brazil’s B3 inventory change, highlighting its rising portfolio of crypto-related merchandise.

The ETF, generally known as WEB311, at the moment has 29.42 million Brazilian reais ($6.1 million) in internet property. The fund has attracted 1,270 traders so far, a Hashdex spokesperson instructed The Block. 

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Hashdex developed WEB311 with crypto index supplier CF Benchmarks, and stated it “replicates” the so-called “CF Net 3.0 Sensible Contract Platforms Index.” At launch, it consists of publicity to seven digital property used for sensible contract blockchains: Ethereum and Cardano (22.5%), Solana (22.1%), Polkadot (19.5%), Algorand (8.8%), Tezos (3.5%) and Cosmos (1.1%). 

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The WEB311 ETF is the most recent in an inventory of crypto-related choices Hashdex has launched since launching the Hashdex Nasdaq Crypto Index ETF (HASH11) final 12 months. That ETF now has greater than 150,000 traders, Hashdex stated in a March 15 announcement. It has additionally listed Bitcoin and Ethereum ETFs (BITH11 and ETHE11) in Brazil. 

In February, Hashdex and QR Capital each launched DeFi ETFs in Brazil. Hashdex’s DeFi ETF, DEFI11, at the moment has practically $12.6 million in internet property, whereas QR Capital’s QDFI11 has about $9 million. 

“We consider Web3 represents the way forward for the web and is an additional indication of the chances provided by way of blockchain expertise,” Hashdex CEO and co-founder Marcelo Sampaio stated in a March 15 assertion. “The WEB311 ETF not solely gives publicity to the sensible contract platforms underpinning web3 however serves as an accessible and distinctive technique to spend money on tasks that would be the important engine of the web of the long run.”


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