OranjeBTC, a major Brazilian bitcoin treasury company, has announced plans for DIGY11, a new exchange-traded fund designed to give local investors regulated access to preferred securities issued by U.S. bitcoin treasury firms. The product is scheduled to begin trading on Brazil’s B3 stock exchange in early September.

DIGY11 will hold preferred shares from Strategy through its STRC security and from Strive through SATA. The fund will not invest directly in bitcoin. Instead it tracks the MarketVector Bitcoin Treasury Preferred Equity BRL Hedged Index, which focuses on preferred equity from companies with substantial bitcoin balance sheets. Currency hedging is built in so the ETF trades and distributes income in Brazilian reais.

Structure, Management and Expected Distributions

3R Investimentos will manage the fund. MarketVector supplies the reference index, while Banco Daycoval serves as administrator. OranjeBTC is the product creator, adviser and anchor investor.

Income received from the underlying securities will be converted into reais and paid to holders each month. Under present market conditions the company estimates annual distributions equivalent to Brazil’s CDI interbank rate plus approximately 3 percent to 5 percent. The projection excludes changes in the ETF’s share price and does not constitute a guarantee of future returns. The annual management fee is set at 0.90 percent, with total estimated costs near 1.30 percent. Daily liquidity and daily disclosure of portfolio holdings and net asset value are planned.

Strategy’s STRC is expected to represent the largest share of the initial portfolio. One local report placed the weighting near 95 percent, with the balance allocated to Strive’s SATA. Future additions to the index will be limited to issuers that hold at least 50 percent of total assets in bitcoin and maintain a minimum of 4,000 BTC.

Gomes added that the structure aims to bring these opportunities to Brazilian investors through regulated channels and that each dollar of annual distribution is supported by equity coverage in bitcoin and cash.

Dividend Details of Underlying Securities

Strategy currently lists STRC’s annualized dividend rate at 12 percent for August. The rate is variable and can be adjusted monthly. Distributions are paid twice each month following a shareholder-approved change. Strategy states that the preferred securities are not collateralized by its bitcoin holdings and that future dividends are not guaranteed.

Strive’s SATA carries a 13 percent annualized rate and has been paying cash dividends on a daily basis since mid-June. The company reported 44 consecutive business-day dividend payments as of early August.

Context in Brazil’s Crypto Investment Market

DIGY11 expands OranjeBTC’s activity beyond holding bitcoin on its own balance sheet. The company previously entered public markets through a reverse merger and holds a sizable bitcoin treasury. Brazil already supports a range of listed crypto-related funds and ETFs. Official data from earlier periods showed substantial net assets and hundreds of thousands of investors in such products.

Unlike conventional bitcoin ETFs that track the price of the asset, DIGY11’s performance will depend primarily on the prices of the preferred shares, the issuers’ distribution rates, currency-hedging costs and fund expenses. The benchmark may incorporate additional eligible bitcoin-treasury preferred securities over time.

OranjeBTC has not set a firm first trading date beyond the early-September target. After listing, the main variables for holders will include movements in STRC and SATA prices, any adjustments to their dividend rates, hedging costs and portfolio weightings.