Hashdex Launches New DeFi ETF That Tracks UNI, AAVE, and COMP

Brazil-based crypto asset manager Hashdex is set to launch an exchange-traded fund (ETF) after 12 decentralized finance (DeFi) tokens, according to a report by CoinDesk on Tuesday.

The product is scheduled to be listed on the Brazilian stock exchange B3 as of February, and reserve orders to purchase shares will start on Tuesday.

DEFI11 will follow the CF DeFi Modified Composite Index, an index that comprises Uniswap(UNI), Aave(AAVE), Compound(COMP), and Maker(MKR).

Hashdex revealed that 70% of the ETF will comprise of DeFi protocols, 15% of smart contracts platforms, and the rest of DeFi protocol support such as identity verification and scalability solutions such as Polygon (MATIC), Chainlink (LINK), and The Graph (GRT).

Marcelo Sampaio, Hashdex CEO, stated that investing in DeFi is similar to investing in fintech companies of the future.

Brazilian banks XP, Itaú BBA, and Banco Genial will work together in offering the ETF.