OranjeBTC to Launch Bitcoin Treasury Yield ETF on Brazil's B3 Exchange
The new DIGY11 fund will track preferred shares of Bitcoin-heavy firms to provide monthly income in reais.
OranjeBTC, Brazil's largest Bitcoin treasury firm, is preparing to launch a new exchange-traded fund on the B3 exchange to provide investors with monthly income linked to the Bitcoin ecosystem. The fund, trading under the ticker DIGY11, marks a shift toward corporate yield products that package the dividends of companies with massive Bitcoin holdings.
Managed by 3R Gestora de Recursos (3R Investimentos) and administered by Banco Daycoval, the ETF is scheduled for launch in early September 2026. The fund's portfolio consists of preferred shares from Strategy (STRC) and Strive (SATA), designed to track the MarketVector Bitcoin Treasury Preferred Equity BRL Hedged Index. To protect investors from volatility in the foreign exchange market, DIGY11 will utilize currency hedging to reduce the impact of USD/BRL exchange rate movements.
The Shift to Corporate Yield
This product represents an evolution in how institutional investors access Bitcoin exposure. While spot Bitcoin ETFs track the price of the asset itself, DIGY11 focuses on the financial instruments issued by companies that use Bitcoin as a primary treasury reserve. MicroStrategy, for instance, has developed complex preferred stock instruments like STRC to fund its ongoing Bitcoin acquisition strategy.
Crucially, these securities are unsecured corporate obligations. They are not directly collateralized by the Bitcoin held on the company's balance sheet, meaning the fund's stability relies on the corporate creditworthiness and dividend policies of the issuing firms rather than the spot price of the cryptocurrency.
Market Implications in Brazil
The launch of DIGY11 highlights a growing appetite for "synthetic" Bitcoin exposure that generates consistent cash flow. In the Brazilian market, where high local interest rates—measured by the CDI—make income-generating products particularly attractive, the fund's target is a significant draw. OranjeBTC has stated that the fund targets an annual distribution estimate of the CDI plus 3% to 5%, net of costs.
By offering monthly distributions in Brazilian reais, the ETF allows local investors to gain exposure to the Bitcoin treasury trend without the volatility of holding the coin directly or managing currency conversions manually.
What to Watch
As the September launch approaches, the primary risk for investors remains the concentration of the portfolio. Because the fund relies on a small number of preferred equity instruments, any change in the dividend policy or financial health of the underlying companies could directly impact the monthly payouts.
Market observers will be watching to see if this "corporate yield" model attracts a new class of conservative institutional investors in Latin America who previously avoided Bitcoin due to its lack of native yield.