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. 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.
QR Asset, the company bringing this new ETF to the market, already has a Bitcoin ETF on the market. The QBTC11 product launched last June, and it is trading on the B3 stock exchange too. With these offerings, QR Asset is now the lone provider of crypto ETF products in Brazil. The securities regulator of the country has been very open to bringing these investment vehicles to the hands of potential investors. In contrast, its U.S. counterpart is reluctant to approve similar products. The SEC reviewed several Bitcoin ETF filings in the past with no luck for their proponents. In the last year, more than 6 proposals have been filed. But the SEC has not yet issued a decision on them. Bitcoin-based ETFs allow institutional investors to enter the crypto market in a more regulated and mainstream way. However, even in the absence of ETF products in some regions, institutional investors are using Grayscale and MicroStrategy as ways to work around the void, gaining indirect exposure to crypto assets via these companies.