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Brazil just became home to what might be the most creative Bitcoin investment vehicle on any major stock exchange. OranjeBTC, the Bitcoin treasury company trading as OBTC3, has launched the Digital Yield ETF under the ticker DIGY11 on B3, Brazil’s primary securities exchange. It’s the first ETF of its kind anywhere: a fund that delivers income to investors by holding preferred equity in US companies sitting on enormous Bitcoin reserves.
The fund doesn’t actually hold any Bitcoin. Instead, it routes investor capital into preferred shares of companies like Strategy (STRC) and Strive (SATA), both of which have adopted the now-familiar corporate Bitcoin treasury playbook. STRC alone reportedly accounts for approximately 95% of the fund’s initial holdings.
How the yield works
The target annual return sits between CDI + 3% and CDI + 5%, not including any capital gains. With Brazil’s CDI benchmark rate currently hovering around 14.15%, that translates to a gross yield in the neighborhood of 17% to 19% per year. Distributions flow monthly in Brazilian reais.
Management fees run at 0.90%, with total estimated costs landing around 1.30%.
The institutional backing
OranjeBTC didn’t launch this solo. The ETF was built in partnership with MarketVector, the index arm of the VanEck group, which provides the underlying benchmark. Asset manager 3R Investimentos handles the fund operations. Banco Daycoval and Itaú BBA, two of Brazil’s established financial institutions, round out the partnership roster.
OranjeBTC itself has built a substantial Bitcoin position over the past couple of years. The company’s treasury holds an estimated 3,700 to 3,900 BTC as of mid-2026, making it one of the more significant Bitcoin treasury operations in Latin America.
The ETF was first announced on August 12, 2026, with the official launch following on September 15, 2026.
What this means for Brazil’s crypto market
Brazil has quietly become one of the most crypto-friendly major economies. The country passed its digital asset regulatory framework in 2023, and B3 already lists several crypto-related ETFs that track Bitcoin and Ethereum prices directly. But DIGY11 occupies a genuinely new category: it’s not a spot tracker, not a futures wrapper, and not a blockchain equity fund. It’s a yield product built on preferred shares of Bitcoin-heavy companies.
The concentration risk, however, is hard to ignore. With roughly 95% of assets reportedly allocated to a single company’s preferred shares, the fund’s fortunes are tightly coupled to Strategy’s financial health and its ability to maintain its Bitcoin position.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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