Latin America's first bitcoin ETF receives approval in Brazil
March 19, 2021, 11:01AM EDT
1 min read
The first bitcoin exchange-traded fund (ETF) of Latin America has been approved in Brazil, the region's largest economy.
The bitcoin ETF was launched by QR Asset Management and is expected to be listed on Brazil's main stock exchange B3, according to a Friday announcement from QR Capital, the asset manager's holding company. The listing date has yet to be disclosed, but Reuters reported Friday that the listing will take place "by June."
The ETF, sporting the ticker symbol QBTC11, has been approved by CVM, the Securities and Exchange Commission of Brazil, said QR Capital.
QR Capital said the approval of QBTC11 could speed up the approval of a bitcoin ETF in the U.S. because CVM and the SEC are affiliated members of the International Organization of Securities Commissions.