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QR Assets Launches DeFi ETF on Brazilian Stock Exchange
Brazilian crypto-asset manager QR Assets has launched a decentralized finance exchange-traded fund, or DeFi ETF, on the Brazilian Stock Exchange.
The DeFi ETF called QDFI11 would track the Bloomberg Defi Index and make 100% of its investment in real DeFi assets. The DeFi Index tracks Uniswap (UNI), Aaave Decentralized Lending Pools (AAVE), MakerDao (MKR), Compound (COMP), Yearn.finance (YFI), SushiSwap (SUSHI), 0X (ZRX), Synthetix (SNX) and Curve (CRV). The ETF would be offered through Gemini Fund Solution, a platform specifically designed for Crypto ETFs.
The ETF would act as a regulated alternative for investors seeking crypto exposure beyond traditional crypto assets such as Bitcoin (BTC) and Ethereum (ETH). The ETF would be the first of its kind and promises to bring safe exposure to the fledgling industry. As crypto investments become more mainstream, Defi is still beyond the reach of many traditional investors. ETF shares would be available at an initial trading price of approximately R$10 (ten reals).
Related: Nasdaq to List Valkyrie ETF Tied to Bitcoin Mining Firms on Feb. 8
QR Capital CEO Fernando Carvalho claimed that the first DeFi ETF would be instrumental in diversifying the reach of traditional investors and a major step towards the maturation of the crypto market. He explained:
“Bitcoin and Ethereum ETFs were just the gateway to a richer and more diversified investment universe. Now it’s time for QDFI11 and decentralized finance. More and more investors will have access to investment products. innovative and disruptive investments with the approval of regulators.
DeFi has become quite a popular crypto industry in 2021, with around $200 billion locked up in thousands of protocols. Two years after its existence, the industry is already creating waves in the banking sector, and more and more investors are looking to join the DeFi revolution.
However, unregulated and security vulnerabilities have kept traditional investors out of the market, and a regulated ETF would certainly help investors gain this risk-free exposure.
