- QR Asset Management announced the approval by CVM of the first ether ETF.
- The autarchy’s release came after QR launched QBTC11.
- The fund has institutional-level custody in deep cold storage by Gemini.
Two among the main managers of criptomoedas of Brazil live a close race for the protagonist position in the industry. On July 13, QR Asset Management announced the approval by CVM of the first ether ETF in the country, the QETH11.
Moreover, the autarchy’s release came after QR launched QBTC11. Notably, the QBTC11 is the first national ETF that invests 100% of its assets in Bitcoin. More so, the company will contain an index fund which is based on the second biggest crypto. As the QETH11 will only invest in Ether.
As per the CME CF Ether Reference Rate, the ETF will hold the same price as Ethereum. In addition, there is no prediction for the listing of the new ETF on the Brazilian stock exchange B3. However, the CVM decision already guarantees its launch in the upcoming future. With QETH11, Brazilian investors will seek exposure to the two biggest cryptos in the world with the purchase of ETFs, which regulate and ease access.
On other hand, along with the ETFs investors are interested in allocating part of their equity. This could opt for investment funds or the direct buying of digital funds. Even more, through specialized brokers or directly with other people. However, this option needs precautions and few knowledge on their custody.
OMG! Brazil has just approved their first #ethereum ETF! Great news for Brazil. And also just underlines how behind the times US regulators are.
— Lark Davis (@TheCryptoLark) July 14, 2021
More so, the QR Asset Management said that the Brazilian investors currently have the possibility of exposure to the two biggest and most valuable crypto assets in the world. However, it is no surprise that it is necessary to register in exchange, develop private keys, or worry about secure custody. Even more, the fund has institutional-level custody in deep cold storage by crypto exchange Gemini.
Brazil also has an ETF that invests in HASH11 and also a number of investment funds based on digital assets. In addition, it also delivers an acceptance of the main national regulatory bodies by the crypto active market. All-in-all, the new Ether ETF will be listed on the Brazilian stock exchange. Currently, only Canada contains products available to investors.