Alternative Investments/Digital: VanEck And Investo Launch Crypto ETF In Brazil
The VanEck-Investo launch comes amidst fears of a “crypto winter” following a relentless slide in the value of bitcoin and other cryptocurrencies.
VanEck, which manages over $78 billion of assets, has tied up with Brazilian asset manager Investo for the launch of a new crypto ETF that focuses on smart contract exposure.
The Investo VanEck ETF MVIS Crypto Compare Smart Contract Leaders Brazil Fundo de Índice – Investimento no Exterior (Symbol: BLOK11), which focuses on smart contract exposure, began trading on the B3 on June 23. (Businesswire)
The ETF will track the MVIS CryptoCompare Smart Contract Leaders Brazil Index (MVSCBR). In a separate announcement, MarketVector Indexes GmbH announced the licensing of MVSCBR to Investo as the underlying index for their BLOK11 ETF.
The index provides exposure to the largest and most liquid smart contract assets globally, which are open-source blockchain software protocols that enable instant, permissionless 365/24/7 global value transfer. This index considers Brazilian trading parameters.
VanEck previously launched four ETF BDRs (Brazilian Depositary Receipts) in mid-March.
Jan van Eck, CEO of VanEck, said the new fund provided a compelling solution to investors for a targeted, differentiated exposure to the digital assets universe.
“We are living in an age of rapid technology development that demands us to be up-to-date at all times on the new applications leveraging cutting-edge technology around the world. With this ETF, we bring to life a simple and intelligent way to invest in the smart contracts sector in a diversified manner,” said Cauê Mançanares, CEO of Investo.
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