Bank of Brazil Will Allow Customers to Trade Hashdex’s Crypto ETF
CoinEdition
Published Apr 18, 2021 03:42AM ET
Updated Apr 18, 2021 04:01AM ET
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
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.