Brazil’s biggest stock exchange, B3, has listed an ETF that mostly tracks bitcoin, ethereum and other cryptos like Chainlink or Litecoin. In exceeding expectations by 150%, the ETF raised 615 million Real on Thursday, significantly more than the minimum of R$250 million. It invests in the Nasdaq Crypto Index (NCI), which was developed by Nasdaq in partnership with Hashdex. The latter says: “In a simplified way, the investor will buy shares of HASH11, which is incorporated in Brazil and regulated by Instruction 359/02 of the Brazilian Securities and Exchange Commission (CVM). This fund, in turn, will invest in shares of the Hashdex Nasdaq Crypto Index ETF, a fund incorporated in the Cayman Islands and listed on the Bermuda Stock Exchange (BSX). This structure (Brazilian ETF that acquires foreign ETF shares) is used by several ETFs available on B3.” Brazil ETF HASH11 Crypto Composition, April 2021