Brazil’s largest bitcoin BTC$63,617.13 treasury firm, OranjeBTC, is preparing to list a monthly income exchange-traded fund (ETF) that would initially put 95% of its portfolio in Strategy’s (MSTR) preferred stock, STRC, and the rest in Strive’s (ASST) equivalent, SATA.
STRC and SATA pay recurring U.S. dollar distributions. The companies’ bitcoin remains on their balance sheets and is not pledged to the preferred shareholders. Yields are currently at 12.5% and 13.1%, respectively.
The Digital Yield ETF, or DIGY11, is planned to trade on Brazil’s B3 in the country’s fiat currency, the real, and distribute income monthly.
OranjeBTC, which holds 3,950 BTC ($250 million), expects annual distributions to be equivalent to Brazil’s risk-free rate, the Interbank Deposit Certificate (CDI), of 14.15%, plus roughly 3–5 percentage points, net of the fund’s estimated 1.30% total cost.
The estimate depends on the preferred-share distributions and the interest-rate difference between Brazil and the U.S., OranjeBTC Director of Strategy and Research Sam Callahan told CoinDesk. It excludes changes in DIGY11’s share price and does not guarantee returns.
