Hashdex to launch an ETF focused on Web3 and smart contracts on Brazil’s B3 stock exchange

According to the release, the reserve period for the new ETF began on Monday and will end on March 25, 2022.

With a fresh release, Hashdex, a worldwide crypto-focused asset management, announced the debut of its Web3 Exchange Traded Fund (ETF).

According to Cointelegraph Brazil, the new ETF will be listed on B3, Brazil’s primary stock market, and will provide investors with a safe and diversified vehicle for investing in Web3 and its underlying smart contract platforms.

The reserve period for the new ETF began on Monday, March 14, 2022, and will end on Friday, March 25, 2022. Marcelo Sampaio, co-founder and CEO of Hashdex, said that the business thinks Web3 symbolises the future of the internet and demonstrates the potential of blockchain technology. Additionally, he stated:

“The WEB311 ETF not only gives exposure to the Web3 smart contract platforms, but also provides an accessible and unique vehicle for investing in the initiatives that will power the internet of the future.”

The new offering was unveiled in collaboration with CF Benchmarks, a leading producer of digital asset market indexes in the globe. According to the statement, WEB311 will track the “CF Web 3.0 Smart Contract Platforms Market Cap Index.”

The index will include tokens from two market leaders with the most valuable DeFi contracts in terms of total value locked in their protocols — Ethereum (ETH) (22.5 percent) and Solana (SOL) (22.1 percent), as well as tokens from developing ecosystems. They are Cardano (ADA) (22.5 percent), Polkadot (DOT) (19.5 percent), Algorand (ALGO) (8.8 percent), Tezos (XTZ) (3.5 percent), and Cosmos (ATOM) cryptocurrencies (1.1 percent ).

Hashdex is a licenced cryptocurrency investment fund manager that launched its first cryptocurrency-focused exchange-traded fund, HASH11, in April of last year. Additionally, Hashdex provides a BTC/Nasdaq Crypto Index fund and a Bitcoin Risk Parity Gold Fund.

In August 2021, Hashdex launched BITH11, a decentralised and blockchain-based ETF devoted to the future of the internet.

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