Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did.
According to a letter sent by Hashdex to its clients, the state-backed banking institution will be able to offer its customers the possibility of buying the crypto ETF of Hashdex, which will have the ticker “HASH11.”
That said, the Bank of Brazil’s customers could have exposure by investing in the fund, which will replicate the Nasdaq Crypto Index (NCI). The letter clarifies that the new date of the ETF debut is set to take place on April 26, 2021, as the original date was April 22.
With such maneuver, the banking institution becomes the first public bank in the world to offer such kind of exposure.
Subscription orders can be made until April 20, according to Hashdex, and the only ones who can be able to do it are authorized agents “who can do this on their own behalf or behalf of customers.”
The Hashdex Nasdaq Crypto Index (HASH11) – coordinated by Itaú, BTG Pactual, and Genial – is composed of crypto assets such as bitcoin (BTC), ethereum (ETH), litecoin (LTC), chainlink (LINK), bitcoin cash (BCH), and Stellar (XLM).