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Brazil approves the first investment fund in Latin America listed in the cryptocurrency Ether

This Ether ETF, which will be nicknamed QETH11, will move on the São Paulo B3 stock exchange.

July 15, 2021 2 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

The Securities and Exchange Commission (CVM), the body that regulates securities in Brazil , has approved an exchange-traded investment fund (ETF) that will be based on the cryptocurrency Ether .

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This Ether ETF, which will be dubbed QETH11, will be traded on the São Paulo B3 stock exchange and will be managed by QR Asset Management .

“Expanding the diversification horizon, QETH11 becomes a simple, safe and regulated option for any investor to obtain direct exposure to Ethereum through their preferred brokerage. Without worrying about records in exchanges, wallets or private keys, ”says a tweet in Portuguese from QR Asset Management.

In this way, Brazil becomes the first country in Latin America to authorize an EFT based on the Ethereum platform and the second in the world, only behind Canada.