The Brazilian Securities Commission (CVM) just approved an exchange-traded fund (ETF) that tracks the performance of Ethereum (ETH).
Blockchain investment firm QR Capital, the holding company of QR Asset Management, says the Ethereum ETF will be traded on the country’s stock exchange, B3, with the ticker QETH11.
QETH11 is the first ETF exchange-traded fund to be approved in Latin America.
“QETH11 follows the same Ethereum index used by the CME Group, the CME CF Ether Reference Rate. For this, the ETF buys physical Ethereum and carries out custody with transparency and security for you.”
The new ETF will use the institutional custody provided by Gemini, a crypto exchange owned by Cameron and Tyler Winklevoss.
“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, wallets or private keys.”
In March, CVM also gave its nod to a Bitcoin ETF and another exchange-traded fund based on a basket of six crypto assets which include Bitcoin (BTC), Ethereum, Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH) and Chainlink (Link).
The Bitcoin ETF, QBTC11, is also the first BTC-based exchange-traded fund in the region. It started trading on B3 last month.
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The post Brazil Green Lights First Ethereum ETF in Latin America appeared first on The Daily Hodl.
