Brazilian cryptocurrency asset manager, Hashdex, is planning to launch an exchange-traded fund that would track 12 DeFi tokens.
DEFI11 would replicate the CF DeFi Modified Composite Index, which features Uniswap, Aave, Maker, and Compound tokens.
The firm notes that XP, Banco Genial, and Itaú BBA would coordinate the EFT offering, which would be listed on the Brazilian stock exchange as of February.
The asset manager notes that 70% of the fund would have DeFi protocols, 15% smart contract platforms, and the rest would go to DeFi protocol support.
The Hashdex CEO, Marcelo Sampaio, says that DeFi investments are futuristic. The executive thinks that technology will grow exponentially in the future.
Hashdex introduced HASH11, an ETF cryptocurrency with over 130,000 investors, in April 2021. The fund was the second highly purchased future in the Brazilian stock exchange.