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Bank of Brazil Will Allow Customers to Trade Hashdex’s Crypto ETF

CryptocurrencyApr 18, 2021 04:01AM ET
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Bank of Brazil Will Allow Customers to Trade Hashdex’s Crypto ETF

  • Bank of Brazil has postponed its ETF launch to April 26.
  • The ETF is represented by “HASH11”
  • After the launch, the ETF will trade via the Brazil Stock Exchange.

According to a letter from Hashdex, the Bank of Brazil would enable its customers to trade Hashdex’s crypto ETF after the launch. Symbolically, the Hashdex ETF will be represented as “HASH11”.

The news came after Bank of Brazil has pushed the launch of its first-time ever crypto exchange-traded fund to April 26.

Also, the Bank of Brazil will allow customers to easily invest in the ETF in the Brazilian crypto market. Moreover, the exchange-traded fund (ETF) will mainly be a duplicate of the Nasdaq Crypto Index (NCI).

If this happens, the Bank of Brazil (Banco do Brasil) will be the first public bank driving customers’ exposure to ETF. As per Hashdex, authorized agents can subscribe to the ETF for their customers from now on until April 20.

In addition, the Hashdex Nasdaq Crypto Index (HASH11) is made up of different kinds of cryptos. To mention a few, these cryptos are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), Bitcoin Cash (BCH), and Stellar (XLM).

What is more, the ETF revolution is a step forward to drive crypto adoption in Brazil. More so, this time, institutional investors will now have access to trade bitcoin and several other cryptocurrencies.

This article was first published on coinquora.com

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Bank of Brazil Will Allow Customers to Trade Hashdex’s Crypto ETF
 

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