Latin America’s first Ethereum ETF has been approved

Latin America’s first Ethereum ETF has been approved by the Brazilian Securities Commission. The ETF will track Ethereum’s performance and give everyone an opportunity to invest in it. Due to the regulated nature of the ETF, the tax is properly maintained. At the same time, it will also be an investment opportunity for those who want to invest in crypto, but not directly.

Latin America’s first Ethereum ETF

The Brazilian regulator approved the ETF on July 13th. This particular ETF was submitted by QR Asset Management, and they said it would soon be listed on the Brazilian stock exchange. Given that this is the first ETH ETF in Latin America, it is expected to increase participation in Ethereum investments. At the same time, a government-approved investment will also bring many skeptics on board with crypto.

The ETF will be called QETH11 and to rate itself it will follow the Ethereum reference rate. You will buy the Ethereum needed for the ETF on the open market. And to ensure user custody, the company uses Gemini’s custody options.

That’s big

A few weeks ago I remember writing about Latin America’s first Bitcoin ETF. This ETF was also launched by the same asset management company and traded under the ticker name QBTC11. The constant admission of new ETFs is expected to increase institutional giants’ exposure to the cryptocurrency. This in turn will increase the investments and thus the price of the cryptocurrencies.

After the first gold ETF was approved in the US, the price of gold rose directly for the next decade. Even in crypto, with the advent of ETFs, we can expect a similar revolution. The SEC in the US has already announced that it may soon approve one as it is not their responsibility to approve or disapprove investment vehicles based on the underlying asset. So overall we see a pretty positive scenario here.

What do you think of the SEC’s approval of Latin America’s first Ethereum ETF? And do you think the US will soon allow ETFs too? Let us know in the comments below. If you found our content informative, like it and share it with your friends.

Also read: Baby Doge falls 40% as markets sag and hype collapses.



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