Asset manager QR launches Bitcoin ETF on Brazilian stock exchange

Asset manager QR is launching the first Bitcoin exchange-traded fund (ETF) in Brazil today. The ETF will go by the ticker (BRZY) and is traded on BM&F Bovespa (BVSP), Brazil’s biggest stock exchange.

Register now on Binance, add 50$ and get 100$ bonus voucher!

Just like any other type of stock, the price of a Bitcoin ETF is determined by supply and demand. Because of this, prices can fluctuate massively, even when the underlying Bitcoin itself does not. This is one of the reasons why the financial services industry has been slow to adopt Bitcoin, even though it has been around for over 10 years.

The moment has finally arrived – the Brazilian stock exchange, B3, has approved a bitcoin ETF, also known as a bitcoin Exchange Traded Fund (ETF), to be listed on its exchange. The ETF is launched by Fundos de Investimento em Participações S.A., a company that is the asset manager of the Brazilian stock exchange. The UESP ETF will be called the Bitquick Bitcoin ETF and it will be listed on B3’s exchange as a non-delisted security.. Read more about bitcoin etf 2021 and let us know what you think.

The Brazilian exchange, or B3, has begun trading another bitcoin exchange-traded fund (BTC), marking the growing acceptance of the crypto industry in the country.

Brazilian asset manager QR Asset Management on Wednesday started trading its bitcoin ETF with the ticker QBTC11 on the B3 exchange in São Paulo, Cointelegraph Brazil reported.

The listing comes months after Brazil’s Securities and Exchange Commission approved QR’s bitcoin ETF in March, along with another cryptocurrency ETF from Latin American cryptocurrency investment firm Hashdex. Unlike Hashdex’s crypto ETF product, which offers a diversified portfolio across multiple cryptocurrencies, QR’s ETF product offers exposure to bitcoin only.

QR Capital founder and CEO Fernando Carvalho said the launch of a cryptocurrency ETF is a symbol of security, as it allows investors to access bitcoin directly without relying on unregulated platforms :

The CTQB11 is an important milestone for both the conventional financial market and the digital asset sector, as it represents a point of convergence between the two. Investors now have a regulated, cost-effective and reliable way to connect directly to the market’s most important crypto asset – bitcoin.

Related: Canadian bitcoin ETFs quickly reach $1.3 billion in volume, while U.S. adoption lags

QR’s bitcoin ETF is not the only cryptocurrency ETF listed on the B3 exchange. In April, the Brazilian exchange launched trading in the country’s first cryptocurrency ETF, Hashdex HASH11. HASH11 replicates the Nasdaq Crypto Index, which consists of various cryptocurrencies including bitcoin, Ether (ETH), Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH) and Chainlink, and is rebalanced quarterly.

Bitcoin ETFs are becoming increasingly popular in many jurisdictions. Canadian asset manager 3iQ launched its bitcoin ETF fund on Nasdaq in Dubai on Wednesday. Canada is another major country working to establish a BTC ETF. The bitcoin ETF from 3iQ and CoinShares will be listed on the Toronto Stock Exchange in April 2020. Despite growing global acceptance, US regulators have yet to approve bitcoin ETFs and have delayed several decisions on such products in recent weeks.Brazil’s largest stock exchange, the BM&F Bovespa (BVSP), conducted its first ever Bitcoin-tracking ETF (exchange-traded fund) on March 7. The Qubit Brazil Bitcoin ETF seeks to track the price of bitcoin, which is quoted in U.S. dollars and is also known as a digital currency. Several other ETFs are currently trading (or have been trading) on the BVSP’s exchange, but none of them allow investors to track the price of Bitcoin.. Read more about bitcoin etf canada and let us know what you think.

Related Tags:

bitcoin etf 2021vaneck bitcoin etfbitcoin etf brazilbitcoin etf applicationsbitcoin etf canadau.s. bitcoin etf,People also search for,Privacy settings,How Search works,bitcoin etf 2021,vaneck bitcoin etf,bitcoin etf brazil,bitcoin etf applications,bitcoin etf canada,u.s. bitcoin etf,american bitcoin etf,new bitcoin etf

Register now on Binance, add 50$ and get 100$ bonus voucher!

Register now on Binance, add 50$ and get 100$ bonus voucher!

Recent Articles

Here’s Why Housing Market Crash is Coming

With crypto adoption on the rise and a major crash in housing market, it is no surprise that your average person wants to invest. The...

How Government Sets Home Rental Price

A rent control is a government-established limit on the amount that can be charged for renting or leasing property to tenants. The “how much does...

KCAL Airdrop: Grab Free FAT Point To Earn Step.App KCAL Token

One of the first blockchain-powered games, KCAL Step.App is an engaging and competitive social media platform that rewards users with free KCAL Tokens for...

DeFi transforming lending routes on the blockchain

The growth of decentralized finance and FinTech has led to a number of innovations. One such innovation is the ability for borrowers to access...

6 High-Risk, Low-Cap Cryptocurrencies That I Bought During the Crash

After the crypto-market crashed, I was able to buy some of these coins at low prices. There is still time to sell them if...

Related Stories