DIGY11: The new B3 ETF linking fixed income to Bitcoin-holding companies

The launch of DIGY11 on the B3 in September represents an ambitious attempt to blend the predictability of fixed income with the inherent volatility of digital assets. Designed by OranjeBTC, the product does not track Bitcoin price swings directly, but rather the stability of companies holding the cryptocurrency as a reserve asset via perpetual preferred shares. In a market where investors seek to avoid pure volatility while maintaining growth exposure, the currency hedge structure serves as a competitive advantage, especially given the dollar's 1.81% rise over the last 7 days. With the 12-month IPCA at 4.44% and the commercial dollar at R$ 5.1639, the fund's 0.90% management fee and 1.30% total annual cost reflect the complexity of hedging against current exchange rate pressures. Investors must weigh the safety margin of companies like Strategy (STRC) against concentration risks, as the fund shifts treasury operational risks onto shareholders. With a target yield of CDI plus 3% to 5%, the product's success will be tested by its correlation with the MarketVector index and currency fluctuations over the next 180 days.