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Latin America’s First-Ever ETF Starts in Brazil

Latin America’s First-Ever ETF Starts in Brazil
  • QR Capital has set up South America’s first-ever Exchange Traded Fund.
  • The company will begin trading on the Brazilian stock exchange B3
  • The Bitcoin ETF will trade under the ticker QBTC11

Blockchain Investment company QR Capital has set up South America’s first-ever Exchange Traded Fund for Bitcoin in Brazil. The company has started on the Brazilian stock exchange “B3”.

The Bitcoin ETF will be traded on the Sao Paulo-based exchange under the ticker QBTC11. With this move, Brazil has become the second country in the Americas to approve an ETF for Bitcoin. Moreover, this is the fourth ETF of its kind, following the three ETFs that launched in Canada early this year. In countries such as the United States and Europe, such launches are still pending.

About Bitcoin’s entry into the stock market, QR Capital’s CEO Fernando Carvalho noted that this is “a historic moment for both the crypto asset market and the traditional financial markets.”

He further added:

We see that the market is maturing in search of safer and simpler Bitcoin investment options. Our Bitcoin ETFs are groundbreaking for both financial and crypto-asset markets, both. Brazilian investors have a regulated and strong option to buy Bitcoin.

Back in March, the Brazilian Securities and Exchange Commission approved QR Capital’s Bitcoin ETF. Now, in light of further acceptance of Bitcoin ETFs by major countries, US is also looking at VanEck’s application to launch one. If it gets approved, it will be the first one to launch in the country.

Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.