Brazil approves first Latam-based Ethereum ETF – Bitcoin News

The regulators of the CVM, Brazil’s securities regulator, have approved the first Ethereum-based ETF in Latin America (Latam). The product presented by the blockchain investment company QR Asset aims to simplify the task of ether exposure for private and institutional investors. It is traded with the ticker QETH11 on the B3 exchange.

Brazil debuts first Ethereum ETF in Latam

Brazil will be the first country in Latam to trade an Ethereum-based ETF. The Brazilian Securities Commission has approved the proposal by QR Asset, a blockchain investment firm, to offer an Ethereum ETF. The product marked with the ticker QETH11 is traded on the B3 exchange in Sao Paolo.

The goal of the ETF is to provide investors with an easy way to invest money in the performance of Ethereum. QR Asset stated on Twitter that:

QETH11 becomes an easy, safe and regulated option for any investor to invest directly in Ethereum through their preferred broker. Without having to worry about registrations in exchanges, wallets or private keys.

This new ETF will be 100% covered by assets acquired in the market and those assets will be guarded by Gemini, which provides custody services.

QR Asset is amassing two crypto ETFs

QR Asset, the company that is launching this new ETF, already has a Bitcoin ETF in the market. The product QBTC11 was introduced last June and is also traded on the B3 exchange. With these offers, QR Asset is now the only provider of crypto ETF products in Brazil.

The country’s securities regulator has been very open to making these investment vehicles available to potential investors. In contrast, the US counterpart is reluctant to approve similar products. The SEC has reviewed several Bitcoin ETF filings in the past with no luck to its proponents. More than 6 proposals were submitted last year. But the SEC hasn’t issued a ruling on it yet.

Bitcoin-based ETFs give institutional investors a more regulated and established entry into the crypto market. But even if there are no ETF products in some regions, institutional investors are using Grayscale and Microstrategy to work around the loophole and invest in crypto assets indirectly through these companies.

What do you think of Brazil approving the first Ethereum ETF in Latam? Let us know in the comments section below.

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