Brazil has approved the first Ethereum-based ETF in Latin America, through regulators from the CVM, the securities watchdog of the nation.
According to Bitcoin.com, this move will make Brazil the first country in Latin America to trade an Ethereum-based ETF. The Brazilian securities regulator has approved the proposal of QR Asset, a blockchain investment firm, to offer an Ethereum ETF.
The product seeks to simplify the task of getting Ether exposure for retail and institutional investors. It will be traded with the QETH11 ticker on the B3 stock exchange in Sao Paulo.
ETF’s objective is to provide an easy way for investors to put money behind Ethereum’s performance
QR Asset on Twitter said, “QETH11 becomes a simple, safe and regulated option for any investor to gain direct exposure to Ethereum through their preferred brokerage. Without worrying about registrations in exchanges, wallets or private keys.”