OranjeBTC, Brazil's largest bitcoin asset manager, plans to list the DIGY11 ETF on the B3 exchange in early September. The fund will initially allocate 95% to Strategy STRC preferred shares and 5% to Strive SATA preferred shares. Its target annual return is the Brazilian interbank rate (CDI) plus 3-5 percentage points, with an expected post-cost return of roughly 14.15%. The ETF will hedge dollar exposure through monthly FX forwards and charges a 0.90% management fee. 3R Investimentos manages the portfolio, while MarketVector maintains the benchmark index.
OranjeBTC, Brazil's largest bitcoin digital asset manager, has announced plans to launch the DIGY11 ETF, an exchange-traded fund that will initially allocate 95% of assets to Strategy STRC preferred shares and 5% to Strive SATA preferred shares.
The fund targets an annual return of the Brazilian interbank rate (CDI) plus 3 to 5 percentage points. After costs, the expected return stands at roughly 14.15%. A listing on the Brazilian B3 exchange is slated for early September.
To manage currency risk, the fund will hedge its dollar exposure through monthly foreign exchange forwards. The management fee is 0.90%. 3R Investimentos oversees the investment portfolio, and MarketVector maintains the benchmark index.
OranjeBTC currently holds 3,950 bitcoin, valued at approximately $250 million. Sam Callahan, the firm's head of strategy and research, cautioned that the return estimate depends on preferred share dividends and the Brazil-U.S. interest rate spread, and actual returns are not guaranteed. (CoinDesk)
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