The Brazilian Securities Commission (CVM) has authorized the first exchange-traded fund in Latin America that tracks the performance of Ethereum (ETH).
Several months after approving a Bitcoin ETF, Brazil’s regulators have approved a vehicle that tracks the performance of the second-largest cryptocurrency, ETH. QR Asset Management will administer the fund.
QETH11 has been approved by Brazil’s Securities and Exchange Commission to use institutional custody offered by cryptocurrency exchange Gemini. According to QR Capital, it is Latin America’s first ethereum ETF.
QR Capital will purchase ether and provide investors with exposure to it without the need for wallets or private keys. QR Capital’s bitcoin ETF began trading on B3 last month, making it the first bitcoin ETF permitted in Latin America.
Furthermore, Canada has three operating BTC ETFs, all of which have been approved since the beginning of this year.
At the same time, the US SEC continues to deny most petitions while postponing VanEck and SkyBridge Capital’s recent attempts.
In addition to ETFs, investors eager to deploy a portion of their equity can choose investment funds or direct purchase of crypto assets through specialist brokers or directly with other individuals. Still, this choice necessitates vigilance and understanding about their custody.