Bitcoin News and Finance Brazil Approves First Latam Based Ethereum ETF Skip to main content

Brazil Approves First Latam Based Ethereum ETF

Brazil

Regulators from the CVM, the securities watchdog of Brazil, have approved the first Ethereum-based ETF in Latin America (Latam). The product, presented by blockchain investment company QR Asset, aims to simplify the task of getting Ether exposure for retail and institutional investors. It will be traded with the QETH11 ticker on the B3 stock exchange.

Brazil to Debut First Ethereum ETF in Latam

Brazil will be the first country in Latam that will trade an Ethereum-based ETF. The Brazilian securities regulator has approved the proposal of QR Asset, a blockchain investment firm, to offer an Ethereum ETF. The product, identified with the QETH11 ticker, will be traded on the B3 stock exchange in Sao Paolo.

The ETF’s objective is to provide an easy way for investors to put money behind Ethereum’s performance. QR Asset declared on Twitter that:

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, wallets or private keys.

This new ETF will be 100% backed by assets purchased in the market, and these assets will be guarded by Gemini, which will provide custody services.

QR Asset Amasses Two Crypto ETFs

QR Asset, the company bringing this new ETF to the market, already has a Bitcoin ETF on the market. The QBTC11 product launched last June, and it is trading on the B3 stock exchange too. With these offerings, QR Asset is now the lone provider of crypto ETF products in Brazil.

The securities regulator of the country has been very open to bringing these investment vehicles to the hands of potential investors. In contrast, its U.S. counterpart is reluctant to approve similar products. The SEC reviewed several Bitcoin ETF filings in the past with no luck for their proponents. In the last year, more than 6 proposals have been filed. But the SEC has not yet issued a decision on them.

Bitcoin-based ETFs allow institutional investors to enter the crypto market in a more regulated and mainstream way. However, even in the absence of ETF products in some regions, institutional investors are using Grayscale and Microstrategy as ways to work around the void, gaining indirect exposure to crypto assets via these companies.

What do you think about Brazil approving the first Ethereum ETF in Latam? Tell us in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory