Brazil’s Largest Cryptocurrency Manager Plans to Expand to Chile and Europe

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hashdex is a pioneer cryptocurrency fund manager in Brazil and is now announcing expansion plans to offer investment products in Chili Y Europe.

Designed to track the price of the largest cryptocurrencies on the market, Hashdex’s HASH11 launched in April 2021 as the third largest ETF on B3. This is because on the first trading day it only presented less volume than the classic BOVV11 and BOVA11, somewhat never seen on the Brazilian stock market.

However, earlier this year, Hashdex’s basket of cryptocurrencies overtook BOVA11, which replicates Ibovespa, in number of investors. Well, now the company wants to take this fund to Chile, and has the help of the Chilean subsidiary of BTG Pactual, according to an exam article.

According to the portfolio manager of BTG Pactual Asset, Francisco Bize, Chilean investors until then did not have instruments in the local market that would allow them to be exposed to the cryptocurrency market in a regulated manner.

Apart from the South American country, Hashdex is also expected to expand to Europe soon. Since, on Tuesday, he received permission to launch his funds in the European Union.

In a note sent to InfoMoneythe administrator says that it is working closely with service providers in the EU, such as the exchanges themselves, to list their cryptocurrency-based investment products in different countries.

Currently, the composition of the company’s main ETF, HASH11, is 70% bitcoin and almost 27% ethereum, while the remaining 3% are from 9 other crypto assets, as reported by the official Hashdex website.

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