Brazil’s CVM approve the launch of Latin America’s first ETH/USD ETF

Brazil’s CVM approve the launch of Latin America’s first ETH/USD ETF
фото показано с : invezz.com

2021-7-15 13:00

Brazil’s securities exchange commission (CVM) has approved the launch of the first-ever Ethereum (ETH/USD) exchange-traded fund (ETF) in Latin America. QR Capital, the largest crypto asset manager in Latin America, unveiled this news through a tweetstorm on July 14. Reportedly, the ETF “QETH11” will comprise 100% ETH.

🔴 BREAKING: CVM aprova o 1º ETF de Ethereum da América Latina, o QETH11.

O ETF da QR Asset Management, gestora do grupo QR Capital, será listado na B3, que se torna a 1ª bolsa na América Latina a ter um ETF 100% Ethereum. pic.twitter.com/idluRrN2zq

— QR Capital (@qrcapital) July 13, 2021

Allegedly, QETH11 will leverage the same Ethereum index that the CME Group leverages. As such, the ETF will purchase physical ETH and hold it in custody to ensure transparency and security. According to the firm, QETH11 eliminates the need for registering with exchanges, creating private keys, or worrying about secure custody. This is because Gemini, which specializes in crypto custody, will be responsible for holding the invested funds in institutional-grade cold storage.

With CVM’s approval of QETH11, QR Capital is poised to expose Brazilians to the two leading cryptos by capitalization through a secure, regulated environment. Before this, CVM approved the launch of the firm’s Bitcoin (BTC/USD) ETF. The company started trading the ETF under the ticker symbol QBTC11 on June 23 on Sao Paulo-based B3 exchange.

Although the news of CVM’s approval of QR Capital’s Ethereum ETF is bullish, ETH has not reacted to this development. At the time of writing, ETH/USD is trading at $1,948.56 (£1,407.30) after plunging 3.83% over the past 24 hours.

The US SEC is yet to approve an ETF

While Brazil is making significant steps, regarding the development of its crypto ETF market, the US is yet to approve a crypto ETF. The US securities exchange commission (SEC) has received multiple crypto ETF applications over the years. While approving crypto ETFs would offer institutional investors easy access to the crypto market, the regulator has not approved any ETF application to date. Explaining its hesitance to approve crypto ETFs, the SEC cited the crypto market’s ease of manipulation and volatility.

As a result, crypto-hungry investors have decided to go with other methods that can let them participate in the rapidly-growing crypto market. For instance, institutions have been increasingly investing in the Grayscale Bitcoin Trust. Apart from Grayscale, investors have been injecting their funds into MicroStrategy, which has been doubling down on its Bitcoin business over the past few months.

The post Brazil’s CVM approve the launch of Latin America’s first ETH/USD ETF appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

EthereumFog (ETF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ETF

latin america brazil eth usd etf launch

latin america → Результатов: 126


US accelerators are embracing Latin American startups — and it’s paying off

Before 2011, three of the top accelerators in the US, Y Combinator, 500 Startups, and Techstars, didn’t accept a single Latin American startup. 500 Startups was the first to pay attention to Latin America, launching its Mexico-based program in 2011 and receiving startups from Latin America in its Mountain View program early in 2012.

2019-1-27 22:30


Women aren’t failing at science — science is failing women

Female research scientists are more productive than their male colleagues, though they are widely perceived as being less so. Women are also rewarded less for their scientific achievements. That’s according to my team’s study for United Nations University – Merit on gender inequality in scientific research in Mexico, published as a working paper in December 2016.

2019-1-17 11:23


OKCoin Launches Exchange in Latin America with Fiat-to-Crypto Support

OKCoin, a globally leading exchange that caters to over 110 countries, launched its expansion into Latin America this Thursday as revealed via a press release. Providing New Services As of November 15th, citizens in Argentina can invest the Argentine peso into major cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Stellar (XLM), and Zcash… The post OKCoin Launches Exchange in Latin America with Fiat-to-Crypto Support appeared first on UNHASHED.

2018-11-17 18:13