Brazil’s stock exchange welcomed another ETF focused on decentralized finance tokens (DeFi) on Thursday (17). The index fund launched by Hashdex is DEFI11, and features a basket of twelve different cryptoassets.
B3 began trading DEFI11 shortly after Hashdex’s ETF raised around US$55 million during its pre-launch in the crypto market. The fund replicates the CF DeFi Modified Composite Index.
Before the DEFI11 launch, another DeFi ETF recently opened on B3, the QDFI11. In the last week alone, QDFI11 traded more than R$ 9 million on the financial market and was the first DeFi ETF officially launched in Brazil.
Meanwhile, DEFI11 raised only 10% of the pre-launch volume planned for the market. With R$ 55.5 million raised, the index fund projected R$ 500 million in investments during the initial launch phase of the project.
DEFI11 is an ETF focused on cryptoassets that represent decentralized finance projects in the crypto market. With twelve selected tokens, the index fund is divided into three categories of digital currencies, such as:
- DeFi protocols
- Support for DeFi protocols
- Smart Contracts Platforms
In total, the “DeFi Protocols” category features the largest share of crypto assets in the ETF basket. This category accounts for almost 60% of DEFI11’s total value and consists of eight digital currencies, such as Uniswap (UNI), Curve (CRV), Maker (MKR), Yearn.finance (YFI), Aaave Decentralized Lending Pools (AAVE), Synthetix (SNX), Compound (COMP), and Amp (AMP).
Meanwhile, in the “Support for DeFi protocols” category, three cryptoassets that are part of the CF DeFi Modified Composite Index were inserted, such as Polygon (MATIC), Chainlink (LINK), and The Graph (GRT). Finally, the “Smart Contracts Platforms” category features only the ether (ETH) altcoin listed by DEFI11.