June 12, 2021

Bank of Brazil Becomes the First State-Backed Bank to Allow Customers Exposure to a Crypto ETF – Finance Bitcoin News


Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did.

New Launch Date Set for April 26

According to a letter sent by Hashdex to its clients, the state-backed banking institution will be able to offer its customers the possibility of buying the crypto ETF of Hashdex, which will have the ticker “HASH11.”

That said, the Bank of Brazil’s customers could have exposure by investing in the fund, which will replicate the Nasdaq Crypto Index (NCI). The letter clarifies that the new date of the ETF debut is set to take place on April 26, 2021, as the original date was April 22.

With such maneuver, the banking institution becomes the first public bank in the world to offer such kind of exposure.

Subscription orders can be made until April 20, according to Hashdex, and the…

Read the Whole Story