First Bitcoin ETF in Latam Debuts on Brazilian Exchange – Bitcoin News

The first Bitcoin ETF in Latin America debuted on the Brazilian stock exchange yesterday. The ETF presented by QR Capital, a Brazilian blockchain investment firm, aims to simplify bitcoin exposure for institutions and companies. The ETF has been approved by Brazilian regulators and is currently trading with the ticker QBTC11.

Bitcoin ETF makes it in Brazil

The first Bitcoin ETF initiative in Latam is already listed on the Brazilian stock exchange. The goal, conceived by QR Capital, a blockchain investment firm and asset manager, is to simplify bitcoin access for institutions. This Bitcoin ETF product received approval from the Brazil Securities and Exchange Commission last March.

According to Fernando Carvalho, CEO of QR Capital, their product is leading the way in how companies approach cryptocurrency investments in Brazil. Carvalho stated:

We can see the market mature in its quest for safer and easier Bitcoin exposure options. Our Bitcoin ETF will mark a milestone for both the financial and crypto markets once it is the point of convergence between them. The Brazilian investor now has a regulated and robust choice to buy Bitcoin.

While other Bitcoin-based ETFs have hit the market in Canada, this offering is unique in Latam. The product had a good starting session, with Bitcoin prices recovering 7% during the early trading hours. Also the Bitcoin ETF from QR properties a relatively low management fee of 0.75% annually, which is intended to entice small investors to enter the world of cryptocurrency investments in a regulated manner.

USA is lagging behind

Canada and Brazil are already trading Bitcoin ETFs in their markets. But similar filings in the US weren’t as lucky. The SEC (Securities and Exchange Commission) has repeatedly denied filing after filings by various companies offering similar products. There are currently more than 7 submissions from various companies wishing to offer this solution on the US stock market, and two for Ethereum-based variants.

The SEC has cited several reasons for not giving these proposals the green light. Unregulated markets that are prone to manipulation and price volatility are a couple. However, Microstrategy and Grayscale have stepped in as some sort of unofficial substitute for these instruments, bringing with them indirect exposure to the underlying assets.

In any case, if a Bitcoin ETF hits US markets anytime soon, it could make it a lot easier for companies to access Bitcoin. There are still major hurdles to overcome for institutions that want to invest in crypto. An ETF would be an important solution for managers who don’t want to complicate things with custody liabilities and who want to be protected by current market laws.

What do you think of the first Bitcoin ETF product approved in Brazil? Let us know in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

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