Pinheiro Neto acts as deal counsel in structuring of ETF WEB311
Pinheiro Neto Advogados acts as deal counsel in structuring ETF WEB311, of Brazilian fund manager Hashdex
Pinheiro Neto Advogados acted as deal counsel in connection with the structuring, formation and offering of WEB311 on B3, the world’s first index fund (ETF) to give investors exposure to smart contract platforms serving as infrastructure for WEB3, the third generation of the Internet based on blockchain technology, which incorporates concepts such as decentralization and token-based economics.
WEB311 tracks the overall performance of the CF Web 3.0 Smart Contract Platform Market Cap Index, an index developed in partnership with CF Benchmarks and currently encompassing digital assets native to smart contract blockchains, including Ethereum, Cardano, Solana, Polkadot, Algorand, Tezos and Cosmos.
The ETF issued BRL30,383,950.00 in shares and the offering was directed to the general public via B3 (WEB311).
Pinheiro Neto Advogados advised Genial Investimentos Corretora de Valores Mobiliários (lead underwriter), Hashdex Gestora de Recursos (ETF’s portfolio manager); Banco Genial (ETF’s administrator and custodian); XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários; Banco Itaú BBA; Banco BTG Pactual and Genial Institucional Corretora de Câmbio, Títulos e Valores Mobiliários (underwriters).
The firm’s partner Caio Ferreira Silva (pictured), and associates Winnie Tya Tchi Li, Nina Goldman Cavalcanti and legal assistant Carolina Moreira F. Alves.
