Latin America’s first bitcoin exchange traded fund (ETF) has been approved in Brazil, the region’s largest economy.
The bitcoin ETF was launched by QR Asset Management and is expected to be listed on Brazil’s most important stock exchange B3 A Friday announcement of QR Capital, the holding company of the asset manager. The listing date has yet to be announced, but Reuters reported Friday that the listing will take place “by June”.
QR Capital has approved the ETF, with the symbol QBTC11, approved by CVM, the Securities and Exchange Commission of Brazil.
QBTC11 is the fourth bitcoin ETF to receive approval in the Western Hemisphere after three Canadian bitcoin ETFs were launched in recent weeks – Target Bitcoin ETF, Evolve Bitcoin ETF and CI Galaxy Bitcoin ETF.
QR Capital said that the approval of QBTC11 could speed up the approval of a bitcoin ETF in the US because CVM and the SEC are affiliated members of the International Organization of Security Commissions.
Indeed, recent developments suggest that a bitcoin ETF could finally get its hands on regulators in the U.S. this year, as The Block reported last week.
There are currently four bitcoin ETF applications being reviewed by the SEC – each from WisdomTree Investments, VanEck Associates Corp., NYDIG Asset Management and Valkyrie Digital Assets.
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