Brazilian Asset Manager QR Launches First Local DeFi ETF

QDFI11 was listed on the Brazilian stock exchange, B3, and tracks the Bloomberg Galaxy DeFi index.

Feb 8, 2022 at 4:53 p.m. UTC
Updated Feb 8, 2022 at 5:19 p.m. UTC

Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil.

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

Brazilian asset manager QR Capital's decentralized finance (DeFi) exchange-traded fund (ETF) started trading on the Brazil stock exchange, B3, on Tuesday.

  • Under the ticker QDFI11, the DeFi ETF follows the Bloomberg Galaxy DeFi index, a modified market cap-weighted benchmark tracking the largest DeFi protocols and apps: Uniswap (UNI), Aave (AAVE), MakerDao (MKR), Compound (COMP), yearn.finance (YFI), SushiSwap (SUSHI), 0X (ZRX), Synthetix (SNX) and Curve (CRV).
  • QDFI11 is the first DeFi ETF to be listed on B3, where it traded at an initial price of 10 Brazilian reals. The product is open to the public and has a management fee of 0.9% per year.
  • In addition to QDFI11, QR has a bitcoin ETF and an ether ETF listed on B3. "Bitcoin and Ethereum ETFs were just the entrance to a much richer and more diverse investment universe," QR Capital CEO Fernando Carvalho said in a statement.
  • In January, QR’s main competitor, Brazil-based crypto asset manager Hashdex, announced plans to release an ETF following 12 DeFi tokens on the Brazilian stock exchange on Feb. 17.

This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.

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Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil.

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Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil.

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