The Brazilian manager Hashdex has teamed up with Buena Vista Capital to launch a Bitcoin and Gold ETF for protection against times of economic uncertainty.
The managers Hashdex and Buena Vista Capital have joined forces to launch a new ETF called GBTC11, which combines gold and Bitcoin. The fund will be listed on the Brazilian Stock Exchange (B3) on July 29. According to a statement, the new fund aims to meet investors who wish to protect themselves from currency shocks, inflation, and volatility of traditional assets.
"The combination of gold and Bitcoin will serve as a wealth protection alternative for unstable economic scenarios," said the companies, revealing that the allocation will be adjusted according to market risk.
The GBTC11 fund follows the "FTSE Bitcoin and Gold Risk Weighted" index, adjusting the allocation between Bitcoin and gold quarterly according to the volatility of each asset. The strategy aims to balance exposure to stores of value with low correlation to each other.
The ETF GBTC11 will have an administration fee of 0.98% per year. The product offering will be coordinated by Itaú BBA and Genial Institucional, starting June 24. The estimated value of the share at launch is approximately R$ 30.
"In an uncertain scenario, GBTC11 offers a sophisticated response for the investor. By combining exposure to two assets - one recognized for its resilience in adverse economic cycles and the other emerging, Bitcoin, which has shown significant growth and global acceptance - we provide a robust tool not only for wealth preservation but also with appreciation potential. All this with the safety of governance, liquidity, and regulation," says Henry Oyama, Director of Investment Strategies at Hashdex.
"Our proposal with GBTC11 was to transform a well-established thesis among global institutional investors into an accessible alternative for local investors. It is a product that translates, with simplicity and discipline, a sophisticated strategy of diversification and value preservation," says Renato Nobile, Manager at Buena Vista Capital.
The new product also brings together two firms with complementary paths. Hashdex leads the crypto ETF market in Brazil and Latin America, now with 10 funds listed on B3 and active participation in the formulation of global indices in the sector. Buena Vista Capital has been consolidating its position in the independent management market with solutions aimed at strategic allocation and the construction of robust portfolios for different investor profiles.
It is worth remembering that Hashdex is a Brazilian manager and the first company to launch a cryptocurrency ETF in Brazil, the Hashdex Nasdaq Crypto Index (HASH11), in April 2021. Today, according to information from the company, the crypto initiative has several investment funds that together total R$ 8 billion in assets under management.