The largest cryptocurrency manager in South America QR Asset, a subsidiary of QR Capital, launched its newest ETF for Brazil's stock exchange.
Based on the report by a local news agency Valor Investe, the QDFI11 ETF will follow in the footsteps of the Bloomberg Galaxy Defi Index by tracking several DeFi protocols including Uniswap, SushiShwap, 0X, Compound, MakerDao, Aave Decentralized Lending Pools, Curve, Synthetic, and Yearn.finance.
QDFI11 shares will be sold for as low as R$10 ($1.9), with a 0.9% administration fee every year. Likewise, assets accepted by the ETF will need to fit certain criteria: tokens will have to be listed on at least three digital asset resources, accepted by regulated institutions, and retain the status for a 3-month period.
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Director of Investments at QR Asset Alexandre Ludolf spoke on the listing requirements and annual fees for holding shares on the ETF, stating:
"This type of listing is less expensive, without the charges of an offer for retail, which has much more costs involved, from higher legal fees to even a much larger chain to be remunerated."
With DeFi protocols facing a lot of malicious activity in the past couple of months, it would only make sense to create an ETF with a finely regulated environment and security measures, so investors interested in DeFi protocols could safely participate in the ecosystem.