Brazil’s Hashdex to Launch DeFi exchange traded fund
Brazil’s Hashdex, Crypto asset manager, reported on January 18 that it has gotten approval to launch the “world’s first” exchange-traded fund (ETF) following 12 decentralized finance (DeFi) tokens.
The company said that the product will be recorded on the Brazilian stock trade B3 as of February, adding that hold requests to buy shares will be accessible starting Tuesday.
Created in a joint effort with cryptocurrency list supplier CF Benchmarks, Hashdex’s new CF DeFi Index ETF-which will exchange under the ticker DEFI11-will follow the cost of the CF Benchmark’s DeFi Modified Composite Index. That list will itself track a bushel of 12 tokens connected to the DeFi market, with Ethereum, Uniswap, AMP, and Curve making up the greater part of the basket’s absolute worth.
The leftover tokens in the index are AAVE, Maker, Polygon, Chainlink, The Graph, Compound, Synthetix, and Yearn Finance.