Brazil will get its first Bitcoin ETF and becomes the first Latin American country in this regard

Bitcoin exchange-traded fund (ETF) has been approved by the Brazilian Securities and Exchange Commission in Brazil. Brazil is the first Latin American country to have Bitcoin ETF

Share

Previously, QR Capital Cryptocurrency Investment Company (QRCIC) had applied for a Bitcoin exchange-traded fund that has been approved by Brazil’s Securities and Exchange Commission.
This company believes that it is the biggest crypto asset manager in Latin America and this launch is particularly of significance since it provides convenient, local, and safe access to the biggest crypto asset in the world.

When Bitcoin ETF is listed on a traditional market stock exchange next to for instance Apple and Facebook stocks, investing in Bitcoin would be easier and more trustable which leads to having more local investors in it and more diversified portfolios.

Yesterday, QRCIC stated that Bitcoin ETF would have the same performance that BTC futures contracts on Chicago Mercantile Exchange (CME) have when traded and operated. They said;

"The QBTC11 will have as reference the CME Group index of bitcoin futures contracts."

Before QRCIC Bitcoin ETF, three other Bitcoin ETFs had been approved and launched in the continent of America and in Canada. The first and second ones were from Purpose Investments Inc. and Evolve Funds ETFs in Feb 2021 which were followed by CI Galaxy Bitcoin ETF in March. This decision by the Canadian government to accept Bitcoin ETFs could stimulate their American counterparts to do so.

Categories

Cryptocurrency(5)

Latest News

Shiba Inu wallet waitlist hits 1.6 and Robinood COO hails this

1.6 million people are in a queue for Robinhood's crypto wallet as pressure rises on this company to list one of the market's most popular memecoins. ...

NOV 10, 2021

BlockFi files for a Bitcoin ETF with physical backing

The Securities and Exchange Commission's decision on VanEck's proposal for a spot Bitcoin ETF is set to be made on November 14th. ...

NOV 08, 2021

Brazilian federal deputy proposes cryptocurrency as a payment option for workers

Goulart's plan calls for the passage of a new legislation that would provide all Brazilian employees the option to receive their payment in cryptocurrency from ...

NOV 07, 2021

Enjin tends to spend a new $100M to decentralize its metaverse

The fund will be dedicated to building the Efinity blockchain, focusing on seed equity investments. ...

NOV 04, 2021

Tags

Bitcoin ETF

Bitcoin

Tags

Bitcoin ETF

Bitcoin