The Crypto word is spreading fast and exponencially due to its huge price pump whether on BTC or any other ALT coin. I'm not here to talk about that but to talk about the first Crypto ETF to Brazilian people!
With the implementation of this ETF normal people that don't have any knowledge on crypto can begin putting some FIAT money and begin to diversify their portfolio with the future of currency worldwide.
I found the name of this ETF quite appealing HASH11 and it will replicate the NCI which is compound with Bitcoin, Ethereum, Stellar, Litecoin, Bitcoin Cash and Chainlink. And of course is rebalanced every quarter.
In order to choose those 6 coins the Nasdaq applied 4 filters which were:
- the coin needed to be listed on 3 regulated exchanges
- be supported by two institutional custodians
- have floating price
- represent at least 0.5% of all crypto market
Those are very important filters and with this replication of the NCI this new ETF will elevate and increase the number of common investors to begin knowing crypto! Very exciting news!