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The Hashdex Nasdaq Bitcoin Reference Price ETF (BITH11) is a Brazilian exchange-traded fund designed to provide exposure to Bitcoin through investments linked to the Nasdaq Bitcoin Reference Price (NQBTC). The ETF is managed by Hashdex Gestão de Recursos Ltda. and trades under the ticker BITH11 on the B3.
Classified as a cryptocurrency ETF, the fund follows a passive management strategy. Its structure invests in financial instruments designed to track the performance of Bitcoin, seeking to provide exposure closely aligned with the benchmark index without requiring investors to directly custody digital assets.
Composition / Exposure profile
BITH11 provides exposure primarily associated with:
- Bitcoin-linked financial instruments.
- Cryptocurrency markets.
- Digital assets.
- Institutional Bitcoin exposure.
- Blockchain-related investment themes.
- Global crypto markets.
- Alternative investment strategies.
- International digital-asset exposure.
The ETF’s performance is particularly sensitive to fluctuations in Bitcoin prices, cryptocurrency-market volatility, and changes in institutional and retail demand for digital assets.
Regulatory developments, macroeconomic conditions, liquidity trends, and shifts in global risk appetite may directly affect the fund’s behavior. The ETF may also reflect developments associated with Bitcoin adoption, blockchain infrastructure growth, and changes in the broader digital-asset ecosystem.
Structure and costs
BITH11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF’s market price with its net asset value (NAV).
The fund charges a management fee and does not apply a performance fee. BITH11 does not provide recurring income distributions, as gains generated by the portfolio are reinvested into the fund structure.
Because the ETF maintains exposure to cryptocurrency markets, its performance may exhibit significant volatility and sensitivity to changes in digital-asset prices and investor sentiment.
History and evolution of the ETF
The Hashdex Nasdaq Bitcoin Reference Price ETF was launched in 2021 with the objective of expanding access to Bitcoin through a regulated, index-based structure listed on the B3.
Since inception, the fund has become part of the growing cryptocurrency ETF segment in Brazil, reflecting increasing investor interest in digital assets and blockchain-related investment opportunities.
In recent years, BITH11 has reflected fluctuations in Bitcoin prices and developments across global cryptocurrency markets, influenced by institutional adoption trends, supply-and-demand dynamics, regulatory developments, and international macroeconomic conditions.
Additional Information
Hashdex Nasdaq Bitcoin Reference Price ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $1.98 Billion.
Over the past 12 months, Hashdex Nasdaq Bitcoin Reference Price ETF recorded a return of -45.37%, with its price trading between $70.08 and $151.70 during the same period.
The ETF is traded under the ticker BITH11.
