Bitcoin (BTC) ETF (Exchange Traded Fund) of blockchain investment company QR Capital has started on the Brazilian stock exchange “B3” became the first Bitcoin ETF in South America. The Brazilian Securities and Exchange Commission approved QR Capital’s Bitcoin ETF in March this year. Bitcoin’s entry into the stock market is a historic moment for both the crypto asset market and the traditional financial markets. The market is maturing in search of safer and simpler Bitcoin investment options. Bitcoin ETFs are ground breaking for both financial and crypto asset markets, both. Brazilian investors have a regulated and strong option to buy Bitcoin.
Brazilian-based QR Capital received approval from the Brazilian Securities and Exchange Commission (CVM) to list an exchange-traded fund (ETF) composed solely of bitcoin (BTC), on the São Paulo-based B3 Stock Exchange. The ETF is the first 100 percent BTC exchange-traded fund to be approved anywhere in Latin America, and the fourth to be approved in the G-20 countries. The first three were approved last month in Canada. The QR Capital ETF is slated to begin trading in June and, when it does, the ETF will be open to any Brazilian citizen, as well as international investors, who have an account with a broker dealer affiliated with B3, says QR Capital Founder and CEO Fernando Carvalho. More than 4,000,000 Brazilians currently have access to the B3 stock exchange, says Carvalho. It is anticipated that the demand for the ETF will be staggering. For the first time, Brazilian investors will be able to participate in a fully BTC-regulated investment vehicle. Unlike the U.S. and many other countries, crypto exchanges are not specifically regulated in Brazil. Further, the QR Capital ETF is the only Brazilian investment fund that is invested 100 percent in BTC. All other investment funds open to small investors are constrained by Brazilian law to hold a maximum of 20 percent of crypto currencies.