Brazil Leads Crypto ETF Race With New Hybrid Bitcoin/Gold Product

Key Points

1. Hashdex and Buena Vista Capital are launching GBTC11, a hybrid Bitcoin and gold ETF on Brazil’s B3 stock exchange, set to go live on July 29.

2. GBTC11 will track the FTSE Bitcoin and Gold Risk Weighted Index, priced at R$30 (US$5.52) with a 0.98% annual management fee.

3. Brazil’s B3 exchange will have 22 ETFs offering full or partial exposure to cryptocurrencies after GBTC11's launch.

4. Hashdex’s HASH11, featuring Bitcoin and Ethereum, has been available since 2021, and Brazil was the first country to approve single-asset Solana ETFs in September 2024.

5. Brazil’s crypto ETFs have 180,000 investors, with daily transaction volumes averaging R$50 million (US$9.1 million) and total assets under management exceeding R$5 billion.