Latin America’s first two DEFI ETFs debut in Brazil

Two ETFs that track DeFi indices have begun trading on the Brazilian stock exchange in recent weeks, the first of their kind in Latin America.

The first to begin trading on São Paulo’s B3 stock exchange was the product of Brazilian asset manager QR Capital of Rio de Janeiro.

The company launched on February 8 the ETF known as QDFI11, which refers to the Bloomberg Galaxy DeFi Index, which tracks the largest DeFi protocols and applications: Uniswap (UNI), Aave (AAVE), MakerDao (MKR), Compound (COMP), Yearn.Finance (YFI), SushiSwap (SUSHI), 0X (ZRX), Synthetix (SNX) and Curve (CRV).

QDFI11 was the first fund of its kind to debut in a Latin American market. The product is open to the public through B3 and has a management fee of 0.9% per annum.

And the second Hashdex, is a cryptoasset manager with offices in Menlo Park, California and Rio de Janeiro, which announced Thursday the launch of a second DeFi ETF.

This is from the DEFI11 product, an ETF that mirrors the CF DeFi Composite Index, an index that tracks 12 digital assets spanning decentralized applications (DApps), service protocols and settlement networks.

The company communicated the news via its Twitter account:

“Excited to announce that our DeFi ETF is now listed at B3 under DEFI11. Marks an important milestone as we provide investors with access to the next evolution of the crypto ecosystem. DEFI11 is off to a good start with 2200 investors and $10.5 million raised.”

Hashdex’s new ETF was developed in partnership with global cryptocurrency index providerCF Benchmarks.

The product tracks an index from the firm that features tokens from Uniswap, Aave, Compound and Maker, among others. It also features support for the DeFi protocol, including identity verification and scalability systems such as Polygon, Chainlink and The Graph.