Brazil’s BTG Pactual launches new fund with ETH exposure

BTG Pactual has launched a new multimarket fund with exposure to ether (ETH), the Brazilian investment bank announced today. 

The fund, called BTG Pactual Reference Ethereum 20, has 20% exposure to ETH, the native cryptocurrency of the Ethereum network, and 80% to fixed income. It requires a minimum investment of 100 Brazilian reais ($17.74) and a 0.5% annual administration fee. 

BTG Pactual Reference Ethereum 20 joins two other bitcoin-focused funds the bank launched earlier this year—BTG Pactual Reference Bitcoin 20 and BTG Pactual Reference Bitcoin 100. It will be the 14th fund in the bank’s “Reference” family, a series of funds that track the performance of tech companies, semiconductors and biotech among other sectors.

"Democratizing access to the crypto asset market has been one of our goals in creating these products," André Portilho, partner and head of Digital Assets at BTG Pactual said in a Portuguese-language press release. "Crypto is already known practically all over the world and Brazilian investors have been following the growing relevance of this sector, but they do not necessarily [have a handle on] the bureaucracy necessary to operate this asset. Now, they can have this exposure with the same ease they’re used to when investing in any fund.”

Brazil has seen several crypto funds launch this year, including QR Capital’s Ethereum exchange-traded fund (ETF) QETH11.