Brazilian Bitcoin treasury company OranjeBTC is preparing to list a new income-focused exchange-traded fund on the B3 exchange in early September. The product, called DIGY11, is expected to allocate approximately 95% of its portfolio to Strategy’s STRC preferred stock, with the remaining 5% in Strive’s SATA preferred securities.
DIGY11 will not hold Bitcoin directly. Instead, it will track the MarketVector Bitcoin Treasury Preferred Equity BRL Hedged Index, which selects preferred shares issued by listed companies with Bitcoin-heavy balance sheets. The fund targets monthly distributions in Brazilian reais and aims to deliver CDI plus approximately 3% to 5% annually under current market conditions, though returns are not guaranteed.
According to local reports, the ETF will charge a 0.90% annual management fee, with estimated total costs around 1.30%. It will be managed by 3R Investimentos, with MarketVector maintaining the benchmark and Banco Daycoval handling fiduciary administration. OranjeBTC will act as product creator, adviser and anchor investor.
Strategy’s STRC currently carries a 12% annualized dividend rate for August, while Strive’s SATA pays 13% annually. Strategy has emphasized that STRC is not collateralized by its Bitcoin holdings, and future dividends are not guaranteed. DIGY11 also plans to hedge its U.S. dollar exposure using one-month USD/BRL forwards to reduce currency swings for Brazilian investors.
Brazil already has a developed listed crypto investment market. B3 data showed crypto funds and ETFs holding R$13.7 billion in net assets across roughly 576,000 investors in April 2025. DIGY11 differs from conventional Bitcoin ETFs because its returns depend primarily on preferred share prices, issuer distributions, currency hedging and fund costs rather than directly tracking BTC.
