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Asset manager QR launches Bitcoin ETF on Brazilian stock exchange



The Brazil Stock Exchange, or B3, has launched the buying and selling of one other Bitcoin (BTC) exchange-traded fund, marking the rising acceptance of the crypto business within the nation.

Brazilian asset manager QR Asset Administration began buying and selling its Bitcoin ETF with the ticker QBTC11 on the Sao Paulo-based B3 exchange on Wednesday, Cointelegraph Brasil reported.

The itemizing comes a number of months after the Brazilian Securities and Exchange Fee permitted QR’s Bitcoin ETF in March alongside one other crypto-based ETF by Latin American crypto funding agency Hashdex. In distinction to Hashdex’s crypto ETF product, which gives a diversified portfolio to a number of cryptocurrencies, QR’s ETF product offers publicity completely to Bitcoin.

QR Capital founder and CEO Fernando Carvalho stated that the acceptance of a crypto ETF is a logo of safety, because it permits buyers to achieve publicity to Bitcoin immediately on the B3 with out relying on unregulated platforms:

“The QBTC11 is a milestone both in the conventional financial market and in the digital asset industry as it is a point of convergence between the two. Investors now have a regulated, low-cost and robust option to expose themselves directly to the most important crypto asset on the market, Bitcoin.”

Associated: Canadian Bitcoin ETFs shortly hit $1.3B in AUM whereas US acceptance lags

QR’s Bitcoin ETF is just not the one cryptocurrency ETF listed on the B3. In April, the Brazilian stock exchange rolled out buying and selling for the nation’s first crypto-based ETF index, Hashdex’s HASH11. HASH11 replicates the Nasdaq Crypto Index that consists of a number of cryptocurrencies, comparable to Bitcoin, Ether (ETH), Stellar (XLM), Litecoin (LTC), Bitcoin Money (BCH) and Chainlink’s LINK, and is rebalanced quarterly.

Bitcoin ETFs are gaining traction in a number of jurisdictions. Canadian asset manager 3iQ rolled out its Bitcoin Fund ETF on Nasdaq Dubai on Wednesday. Canada is one other main nation that has been shifting ahead with BTC ETFs, with 3iQ and CoinShares’ Bitcoin ETF going dwell on the Toronto Stock Exchange in April 2020. Regardless of rising international acceptance, the US regulators are but to approve a Bitcoin ETF, having delayed a number of regulatory selections on such merchandise up to now weeks.

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