OranjeBTC’s DIGY11 product page was marked "now on B3" on Sept. 15, after planned secondary-market trading was delayed at the fund manager’s request. The fund is not a spot Bitcoin ETF and does not seek to track Bitcoin’s price. Instead, it follows a Brazilian real-hedged MarketVector index of preferred shares issued by companies with substantial Bitcoin holdings. Its disclosed Sept. 11 portfolio held 74.29% in Strategy’s STRC preferred shares, 4.88% in Strive’s SATA shares and 20.83% in Brazilian-real cash and margin for the currency hedge. DIGY11 reported R$27.5 million in net assets and a R$10.00 net asset value per unit for Sept. 11, while its Sept. 15 page displayed R$10.04 per unit. The fund aims to make monthly distributions in reais when applicable and presents CDI plus 3% to 5% as an illustrative annual-return range, excluding changes in unit value. It charges a 0.90% management fee and at least 0.055% for administration and custody. Distributions and returns are not guaranteed, and the fund has no FGC protection.