Brazil has approved the first Ethereum ETF based in Latin America

• Brazil will be the first country in Latin America to trade an ETF based on Ethereum
• The goal of the ETF is to make it simple for investors to invest in Ethereum’s performance
• This new ETF will be 100 percent backed by market assets, which will be safeguarded by Gemini, which will also provide custody services

The first Ethereum-based ETF in Latin America has been certified by the CVM, Brazil’s securities regulator (Latam). The concept, developed by blockchain investing firm QR Asset, intends to make it easier for individual and institutional investors to have exposure to Ether. On the B3 stock exchange, it will be traded under the QETH11 ticker.

Brazil will be the first country in Latin America to launch an Ethereum ETF

Brazil will be the first country in Latin America to trade an ETF based on Ethereum. The Brazilian securities authority has accepted QR Asset’s application to issue an Ethereum ETF. QR Asset is a blockchain investing firm. The QETH11 ticker will be used to identify the product, which will be traded on the B3 stock exchange in Sao Paolo.

The goal of the ETF is to make it simple for investors to invest in Ethereum’s performance. QETH11 becomes an easy, safe, and regulated way for any investor to obtain direct exposure to Ethereum through their preferred brokerage, according to QR Asset on Twitter. Without having to be concerned about exchange registrations, wallets, or private keys. This new ETF will be 100 percent backed by market assets, which will be safeguarded by Gemini, which will also provide custody services.

QR Asset combines two cryptocurrency exchange-traded funds (ETFs)

QR Asset, the firm that launched this new ETF, already has a bitcoin ETF on the market. Last June, the QBTC11 product was released, and it is also traded on the B3 stock exchange. QR Asset is now the only crypto ETF provider in Brazil, thanks to these offerings.

Securities regulators in the country have been eager to get these investment vehicles into the hands of potential investors. Its American counterpart, on the other hand, is hesitant to approve similar products. Several bitcoin ETF filings have been evaluated by the SEC in the past, with little success for supporters. In recent years, more than six proposals have been submitted. However, the SEC has yet to rule on them.

Bitcoin-based exchange-traded funds (ETFs) allow institutional investors to participate in the cryptocurrency market in a more regulated and mainstream manner. Institutional investors are embracing Grayscale and Microstrategy as a way to get around the lack of ETF products in some locations, acquiring indirect exposure to crypto assets through these companies.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.