Brazil Securities Commission Permits First Ethereum ETF in Latin America

The Brazilian Securities Commission has given the green light to the 1st ETF tracking the performance of ETH in Latin America.

A couple of months after permitting a Bitcoin ETF, Brazil’s financial regulator has done the same for a product tracking the performance of the 2nd biggest digital asset (ETH). The fund will be managed by QR Asset Management.

QR Asset Management, the firm that will manage the fund announced,

“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.”

Interestingly, the asset management company added that the new exchange-traded fund will use “secure institutional custody” provided by the United States-based crypto exchange Gemini, which is owned by the Winklevoss brothers.

Notably, the aforementioned ETF is the 2nd approved virtual currency exchange-traded fund in Brazil. According to previous media reports in the month of March, the country’s securities watchdog approved a BTC exchange-traded fund.

Moreover, Canada also has 3 operational Bitcoin ETFs within its borders, all of which have passed since the beginning of this year.

At the same time, the US Securities and Exchange Commission continues to reject most applications while slowing down the latest efforts by SkyBridge Capital and VanEck.