Brazil Becomes First in Latin America to Approve Ethereum ETF


Brazil has approved an Ethereum ETF which will be listed on the Sao Paulo-based B3 exchange under the ticker QETH11.

July 14, 2021, | AtoZ Markets – Brazil’s Comissão de Valores Mobiliários (CVM), the country’s securities regulator, has approved the launch of an Exchange Traded Fund (ETF) based on Ethereum,  the second-largest cryptocurrency by capitalization.

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

The custodian of crypto assets is the Gemini Custody service of the Winklevoss brothers.

Brazil Ethereum ETF will be listed on the B3 stock exchange

Ethereum ETF under the ticker QETH11 will be listed on the B3 stock exchange in São Paulo. The site will be the first in Latin America to trade an exchange-traded fund based on the second-largest cryptocurrency in terms of capitalization.

QR Asset Management is part of the QR Capital group. According to the information on the website, the company manages digital assets in the amount of 594 million reais ($115 million), it has more than 20,000 clients.

Brazil became the second country in the world with registered Ethereum ETFs. As reported by AtoZMarkets in April 2021, Canadian regulators approved the launch of such investment instruments.

Canada has overtaken the South American country with bitcoin exchange-traded funds. A 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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