Comissao de Valores Mobiliarios (CVM), Brazil’s securities regulator, has granted on Wednesday the official green light to an Ether (ETH) exchange-traded fund (ETF) operated by QR Capital, which is a holding company owned by QR Asset Management. The ETF will be trading under the QETH11 ticker in the B3 stock exchange, according to the announcement published via Twitter.
Furthermore, QR Capital noted that it would rely on the same ETH index used by CME Group and will offer custodial services provided by the crypto exchange, Gemini, owned by the famous crypto millionaires Tyler and Cameron Winklevoss. “Expanding the horizon of diversification, QETH11 becomes a simple, safe and regulated option for any investor to gain direct exposure to Ethereum through their preferred brokerage. Without worrying about registrations in exchanges, wallets or private keys,” QR Capital noted.
QR Asset Management clarified that it will acquire ‘physical’ Ether for the fund to ensure transparency and security for investors on the newly-approved ETF. “Thus, seeking to give more autonomy to investors, QR Asset consolidates the strategy of mono active ETFs by giving back the power of choice to its clients. With QBTC11 and QETH11, you can build your own wallet and decide what’s best for your money,” the company added.
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First Ether ETF in Latam
With the new crypto ETF launch, QETH11 becomes the first ETH-backed fund listed in a Latin American exchange. In fact, QR Asset Management got the approval of two crypto ETFs from the Brazilian Securities and Exchange Commission, QBTC11 that is composed entirely of Bitcoin, and HASH11, which has a basket of five cryptocurrencies.
On another side of America, CoinShares 3iQ Bitcoin ETF started trading on the Toronto Stock Exchange (TSX) in April. As a result, Bitcoin ETF is available for trading on the TSX under the symbol BTCQ in Canadian Dollars. In addition, the product is available for trading in US Dollars under the symbol of BTCQ.U.