Brazil first in Latin America to approve Ethereum-ETF

July 14, 2021


Brazil first in Latin America to approve Ethereum-ETF

The Brazilian Securities Commission (CVM) has approved the launch of an exchange traded fund (ETF) based on the second most capitalised cryptocurrency.

BREAKING: CVM aprova o 1º ETF de Ethereum da América Latina, o QETH11. O ETF da QR Asset Management, gestora do grupo QR Capital, será listado na B3, que se torna a 1ª bolsa na América Latina a ter um ETF 100% Ethereum.

An investment product from asset manager QR Asset Management tracks Ethereum quotes based on the CME CF Ether Reference Rate index from the Chicago Mercantile Exchange (CME Group).

The crypto-asset custodian is Winklevoss Brothers' Gemini Custody service.

Ethereum-ETF under ticker symbol QETH11 will be listed on São Paulo's B3 stock exchange. It will be the first Latin American exchange-traded fund based on the second most capitalised cryptocurrency.

QR Asset Management is part of the QR Capital group. According to its website, the firm has R$594 million (~$115 million) in digital assets under management and has more than 20,000 clients.

Brazil became the second country in the world with registered Ethereum-ETFs - Canadian regulators approved the launch of such investment vehicles in April 2021.

Canada is also ahead of the South American country with bitcoin-based exchange-traded funds. The North American country registered its first digital gold ETF in February.

Recall that CVM approved the launch of a bitcoin ETF from QR Asset Management in March.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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