QR Asset Management has secured the go signal to operate as Brazil’s first exchange-traded fund linked to Ethereum, CryptoPotato announced.
- The fund will trade on the B3 under the ticker QETH11, following the CME Group’s CF Ether Reference Rate. It will utilize “secure institutional custody” of the Winklevoss brothers’ Gemini.
- QR Asset Management said QETH11 is a “simple, safe, and regulated” option for market players to have direct exposure to the world’s second-biggest digital token through their chosen brokerage.
- The Ethereum ETF is the first in Latin America and the second crypto ETF in Brazil after a Bitcoin ETF was approved in March. Several crypto-oriented ETFs are also available in Canada, while applications are pending in the United States.
ETH is down 2.53%, while BTC is down 1.50%.