Hashdex, leading crypto-centred asset management firm, debuted the first crypto index ETF. The Hashdex Nasdaq Crypto Index Fund (HNCI ETF) has begun trading on Brazilian exchange B3 under the ticker symbol HASH11.
The fund debuted with R$615.250.700,00. The initial offering was led by Genial with Banco do Brasil, BTG and Itaú.
The ETF builds on the existing funds of Hashdex, and its top five debut proves that there is a rising demand for crypto assets in Latin America and all over the world.
The HNCI ETF offers a full exposure to a market weighted basket of crypto assets that adjust itself as the asset class undergoes change. The fund’s large market representation, trusted governance, daily liquidity, and fair fees enables it to cater to the needs of institutional investors, financial advisors, and retail investors.
This fund raises the bar for the rest of the market. The arrival of HASH11 at B3 brings more comfort and security to the investor, who will have access to a basket of assets with periodic rebalancing and which follows the international safety parameters in this sector.
Marcelo Sampaio, CEO of Hashdex Ltd
The fund aims to track the Nasdaq Crypto Index (NCI), an index representing the institutionally investable crypto asset market that is developed by both the Hashdex and Nasdaq. Once every quarter, the NCI and its related ETFs will rebalance.
Andrew Puschel, the Head of Strategy, believes that the HNCI ETF is a notable milestone for Hashdex, the Brazilian financial markets, and the crypto community worldwide. Puschel added that the crypto economy will innovate and drive the growth of the world’s economy, and that Hashdex will be playing an important role.