The world’s first exchange traded fund dedicated to decentralised finance networks is due to launch in Brazil next month, deepening the $10tn ETF industry’s foray into virtual assets.
The move will allow investors to track a basket of projects betting on decentralised finance, trading and lending networks whose standards are automated and often decided by consensus.
The fund, called the Hashdex DeFi Index ETF, marks a departure for an industry that hitherto has encompassed funds investing in listed crypto businesses, or popular cryptocurrencies such as bitcoin and ether — where permitted by regulators. It will list on the Brazilian stock exchange on February 17.
“By offering the first DeFi ETF in the world, we are providing our global investors with the ability to play a part in the next evolution of the crypto ecosystem,” said Marcelo Sampaio, chief executive of Hashdex, a Brazilian crypto asset manager.
Decentralised finance aims to do away with a centralised intermediary — like a bank or an exchange — to provide financial services such as lending and trading…
