First Bitcoin ETF to receive approval in Brazil

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2021-03-22 23:15:23

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A Latin American first Bitcoin ETF approved in Brazil, the region’s largest economy.

Specifically, the Bitcoin ETF was launched by QR Asset Management and is expected to be listed on Brazilian stock exchange B3, according to a March 19 announcement from asset management firm QR Capital.

The listing date has yet to be revealed, but Reuters reported yesterday that the listing will take place in June this year.

The Bitcoin ETF, under the symbol QBTC11, has been approved by the Brazilian Securities and Exchange Commission (CVM), according to QR Capital.

QBTC11 is the fourth Bitcoin ETF to receive approval in the Western Hemisphere after three Canadian Bitcoin ETFs have been launched in recent weeks, including the Purpose Bitcoin ETF, the Evolve Bitcoin ETF, and the CI Galaxy Bitcoin ETF.

QR Capital said QBTC11 approval could accelerate the adoption of a Bitcoin ETF in the US as the Securities and Exchange Commission Brazil and the SEC are members of the International Organization of the Securities and Exchange Commission.

There are a lot of reports now that the Bitcoin ETF could finally get approval from regulators in the US as soon as this year.

At the moment, there are 4 Bitcoin ETFs waiting for SEC approval, coming from names like: “WisdomTree Investments, VanEck Associates Corp. , NYDIG Asset Management and Valkyrie Digital Assets ”.


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