CryptocurrencyETF (Exchange Traded Fund)News

South America Gets First Cryptocurrency ETF 

South America gets its first Bitcoin Exchange-traded fund (ETF) as QR Capital, a blockchain investment company, launches its QBTC11 on Brazil’s stock exchange. This is the first time South America is getting a cryptocurrency ETF as the clamour for them is springing up around the world. The US Securities and Exchange Commission (SEC) has refused calls and submissions made to it for cryptocurrency ETFs. ETF are also known as non-deliverable which allow investors own cryptocurrencies indirectly (shares).

Brazil’s Securities and Exchange Commission, and Stock Exchange gave its approval to the the ETF in March making it the first cryptocurrency ever launched in the South American continent. QR Capital reported that the Bitcoin ETF would allow investors to store digital assets without having to worry about liquidity or the key phrases to their wallets. The  blockchain franchise further said that the approval of a Bitcoin ETF on Brazil’s Stock Exchange marks a moment of history for the cryptocurrency market and generally, the traditional financial sector.

The firm’s CEO, Fernando Carvalho, commented on the landmark approval, saying it will provide investors with an unlimited and safe option of buying the top crypto asset. A Bitcoin ETF would provide a hedge against the asset’s volatility and reduce the investment risks involved. He further said it is a confluence for both markets. 

📰 Also read:  Inflows for Bitcoin ETFs Reach $20 Billion in Just 10 Months

Crypto ETFs Minimize Investors’ Risks

Exchange-Traded Funds cut across numerous sectors. Cryptocurrency ETFs are attempts towards embracing the soaring popularity of digital currencies and incorporating regulations into the largely unregulated space. ETFs affords investors the opportunity to purchase assets pegged to shares. These assets could be real estate, foreign currencies or digital currencies as we have in the case of Bitcoin. Cryptocurrencies ETFs are gaining much recognition because it allows investors to keep tabs on the assets represented through the shares without the need for a crypto wallet or any wallet key phrases.

US SEC Adamant on Bitcoin ETF Rejection

Repeated calls by investors in the US for cryptocurrency ETFs have been outrightly rejected by the US SEC who is more concerned about price volatility. The Commission is yet to approve any of the crypto ETFs applications made to it. Canada recently approved three cryptocurrency ETFs. Together with the latest South American Bitcoin ETF, currently there are only four Bitcoin ETFs in the world. Canada approved its own weeks ago.

According to reports, a cryptocurrency ETF may also be commissioned in Australia before the year runs out.

📰 Also read:  Lemintero Review – Is Lemintero Scam or Legit? (Complete Lemintero.com review)

The Latin America region has been in the spotlight of late, especially with El Salvador’s landmark decision on Bitcoin. The Latin American country approved Bitcoin as a legal tender earlier this month making it the first sovereign state to do so. The country has proposed mining the asset with volcanoes. Paraguay and Mexico are also looking to adopt a similar decision on the top crypto asset next month.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Bitcoin’s Path to $70K Faces Risk as Social Media Hype Grows

Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content