B3 Lists DIGY11, Brazil's First ETF Tracking Bitcoin Treasury Preferred Stock
Brazil's stock exchange B3 has listed DIGY11, an ETF that tracks Bitcoin treasury preferred stock. This fund is not a spot Bitcoin ETF and does not aim to match Bitcoin's price.
DIGY11 follows the MarketVector index of preferred shares issued by companies whose balance sheets include substantial Bitcoin holdings. The fund's disclosed portfolio as of September 11 was concentrated in Strategy, with STRC preferred stock accounting for 74.29% of assets.
The value of these perpetual, variable-rate preferred securities depends on the issuers' dividend policies and market conditions. DIGY11 aims to make monthly distributions in reais when applicable, and its currency hedge is designed to reduce changes in the dollar-real exchange rate.
The fund charges a 0.90% annual management fee and at least 0.055% annually for administration and custody, before other possible expenses.