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Brazilian Regulator greenlights first ethereum ETF in Latin America

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Joyashree Dey Follow

INDIA

Aug, 06 2021

Aug, 06 2021

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On 14th July, 2021 QR Capital, a block chain investment firm announced its ethereum Exchange Traded Fund (ETF) for crypto, QETH11, approved by the Commission for Brazilian Securities (CVM). It will monitor performance of the Ether digital currency, traded on the Ethereum platform.

On its twitter profile, QR Capital said , “CVM approves the 1st Ethereum ETF in Latin America, the QETH11. The QR Asset Management ETF, manager of the QR Capital group, will be listed on the B3, which becomes the 1st exchange in Latin America to have a 100% Ethereum ETF.”

The release comes about a month after Atlanta based real estate investment company QR Capital launched QBTC11, the first national ETF that invests 100% of its asset in BTC. Now, the company will have an index fund focused on the second largest cryptocurrency in the world, as QETH11 will only invest in ether.

In addition QR Capital added, “Expanding the horizon of diversification, QETH11 becomes a simple, safe and regulated option for any investor to gain direct exposure to ethereum through their preferred brokerage, without worrying about registrations in exchanges, wallet or private keys.” With QETH11, Brazilian investors will be able to seek exposure to the two largest cryptocurrencies in the world with the purchase of ETFs, which are regulated and easily accessible.

On the very same day, Hashdex also announced that it is preparing the launch of a Bitcoin ETF (BITH11), whose proposal will be replicate a fund that seeks to neutralize carbon emissions as a result of the mining of the asset. The world’s second largest digital cryptocurrency by market value $227.143 billion at 12.52 am IST on Tuesday, Ether is traded within a block chain platform called Ethereum. Bitcoin, the world’s first cryptocurrency and most valuable cryptoactive, has a market value of $611.4 billion.


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Joyashree Dey

CBW - External Analyst

INDIA

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