Crypto
Brazil Launches World's First Bitcoin-Backed Digital Credit ETF
Brazil's B3 exchange has launched DIGY11, a Bitcoin-backed digital credit ETF by OranjeBTC. This innovative product is the world's first of its kind and highlights Brazil's growing crypto market.
DIGY11 does not hold Bitcoin directly but invests in preferred shares of US companies with large Bitcoin reserves, mainly Strategy (STRC). The fund aims for annual yields around 18% and offers monthly distributions in Brazilian reais.
The ETF involves major partners like MarketVector and Itaú BBA. However, its heavy concentration in one company poses risks.