Brazil’s CVM Approves Latin America’s First-Ever Bitcoin ETF

Brazil’s CVM Approves Latin America’s First-Ever Bitcoin ETF

This year has been a promising one for Bitcoin ETF approvals as yet another exchange-traded fund monitoring the success of the first-ever cryptocurrency will arise – this time, in Brazil.  CVM, Brazil’s exchange commission,  gave QR Capital’s application the go-ahead, and the commodity, QBTC11, will be live on the Sao Paulo stock exchange.

Bitcoin ETF Approved in Brazil

QR Capital notes that this is the fourth Bitcoin ETF to emphasize the importance of the CVM decisions.

Brazil became the second country to authorize a Bitcoin-tied ETF after three of these were released in Canada earlier this year. B3 is also the second stock exchange worldwide to provide access to this commodity.

QR Capital has its headquarters in Rio de Janeiro and is known in Latin America as “the largest crypto asset manager.” The organization recently tried its hands on the growing tendency to apply for the Bitcoin ETF, and today it revealed the green light from the Brazilian watchdog.

The prominent Sao Paulo stock exchange will host the exchange-traded fund live, under the QBTC11 ticker. The contracts are exchanged and run by the Chicago Mercantile Exchange (CME), and the BTC future contracts follow the CME CF Bitcoin Reference Rate.

QR Capital said it would allow local citizens more straightforward and easy to get to grips with primary crystal without worrying about storing and handling the properties by launching Bitcoin’s initial ETF in Latin American countries.

The Clock is Ticking in the U.S.

Recent approvals of Bitcoin ETFs have been listed in the publication. As previously reported by CryptoPotato, BTCC – the BTC ETF product launched by Intent Investments, was authorized by the Ontario Securities Council (OSC).

In the first month following its publication, this initiative was a huge success. Purpose Investments yesterday revealed that its Bitcoin-ETF had only reached $1 billion in assets under management on its one-month anniversary.

The U.S. $5 trillion ETF Market is yet to come from Bitcoin. VanEck, WisdomTree Investments, and NYDIG submitted their proposals to the  SEC earlier this year. Others such as Valkyrie Digital Assets and VanEck Associates Corp are also waiting for approval from the securities regulator.

Earlier this week, VanEck’s filing, now available in the Federal Register, was formally recognized by Regulator. The SEC is scheduled to decide in May following the comment period up to April 9.

The business has taken the U.S. ball, where the SEC has so far denied all applications by Bitcoin ETF. QR Capital does, however, conclude that the QBTC11 approval will accelerate the launch of a similar product in the U.S.

Related posts:

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Published at Sat, 20 Mar 2021 10:00:08 +0000

ALTCOIN NEWS BITCOIN NEWS BLOCKCHAIN NEWS CRYPTOCURRENCY NEWS ETHEREUM NEWS EXCHANGES NEWS LITECOIN NEWS MARKET NEWS REGULATION NEWS
Gamestop
Important Facts of Gamestop Entering into Cryptomarket
UniFarm
UniFarm Raises $2 Million After Launching Innovative Farming Pool Featuring 17 Top DeFi Projects
XRP, FTX Token, Waves Price Analysis
#HODL #SHILL YOUR SH*T COIN! #SPOTTED! #VIRALS BITCOIN SCAM WATCH FUN QUIZZES
bitcoin-scams
Top 5 Bitcoin Scams you should be aware of!
Instagram Influencer Accused of Scamming Followers Out of $2.5M In Bitcoin Scams
five assorted color cars parked inside room
WHAT WILL YOU BUY WITH YOUR BULL MARKET GAINS?
FAQ'S INTRODUCTION TO BITCOIN INTRODUCTION TO BLOCKCHAIN INTRODUCTION TO CRYPTOCURRENCY EXCHANGES
Cryptocurrency
4 Amazing Perspectives of Cryptocurrency Characteristics, Everyone Should know
How bitcoin Transactions Work
Bitcoin For Beginners: 5 Plus Important Reasons Why You Should Understand The Future Impact of Bitcoin On Society
blockchain
5 Important points about Blockchain, Cryptocurrency, and Bitcoin(Safe or Not)
EXCHANGES WALLETS
coinbase
4 Best Crypto Coins on Coinbase
flat lay gadgets beside bearded man
ULTIMATE LIST : BEST BITCOIN AND CRYPTOCURRENCY WALLETS 2021
person shopping online
2021 BEST BITCOIN AND CRYPTOCURRENCY HARDWARE WALLETS TO STORE YOUR COINS SAFE

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.