Reports said that Hashdex, a global crypto-focused asset manager, has revealed the launch of its Web3 Exchange Traded Fund (ETF) with a new announcement.
It has been reported that the new ETF will be available on B3, Brazil's main stock exchange, and will give investors a secure and diversified way to invest in Web3 and its underlying smart contract platforms. The new ETF's reserve period started Monday, March 14, 2022, and runs until Friday, March 25, 2022.
Marcelo Sampaio, the CEO and co-founder of Hashdex, said that the company believes that Web3 represents the future of the internet and is a further indication of blockchain technology's potential.
He added:
"The WEB311 ETF not only provides exposure to the smart contract platforms underpinning Web3, but serves as an accessible and unique way to invest in projects that will be the main engine of the internet of the future."
However, the new product was announced in conjunction with CF Benchmarks, one of the world's major providers of digital asset market indexes. WEB311 will mirror the “CF Web 3.0 Smart Contract Platforms Market Cap Index."
The report said that the index will comprise tokens from two industry-leading platforms with the most valuable DeFi contracts in terms of total value locked in their protocols, Ethereum (ETH) (22.5%) and Solana (SOL) (22.1%), as well as emerging ecosystems. They fall under the category of Cardano (ADA) (22.5%), Polkadot (DOT) (19.5%), Algorand (ALGO) (8.8%), Tezos (XTZ) (3.5%); and Cosmos (ATOM) (1.1%). Hashdex is a fund manager that issues licensed crypto investment funds, having launched its first cryptocurrency-focused ETF, HASH11, in April of last year.
Hashdex also offers a Nasdaq-weighted BTC/Nasdaq Crypto Index fund and a Bitcoin Risk Parity Gold Fund.
Thus, in August 2021, Hashdex introduced an ETF dedicated to the future of the internet, which is decentralized and built on blockchain technology with the ticker BITH11.
Source: Cointelegraph