The Brazilian Stock Exchange, or B3, has launched another Bitcoin (BTC) exchange trading fund, which represents the growing acceptance of the cryptocurrency industry in the country.

Brazilian asset manager QR Asset Management began trading its Bitcoin ETF with ticker symbol QBTC11 on the B3 exchange in Sao Paulo on Wednesday, Cointelegraph Brasil reported.

The listing came a few months after the Brazilian Securities and Exchange Commission approved the QR Bitcoin ETF in March, along with another crypto-ETF from Latin American crypto investment firm Hashdex. Unlike the Hashdex crypto ETF product, which offers a variety of multiple cryptocurrencies, the QR ETF product offers exclusive access to bitcoins.

The adoption of a crypto ETF is a token of security, allowing investors to access bitcoin directly on B3 without relying on unregulated platforms, Fernando Carvalho, founder and CEO of QR Capital said:

QBTC11 is an important milestone in both the regular financial market and the digital asset industry, as it is the meeting point between them. Investors now enjoy a regulated, cheap and secure alternative to direct access to the most important cryptocurrency in the market, Bitcoin. ”
RELATED: Canadian Bitcoin ETFs Quickly Reach $1.3 Billion in AUM, While US Adoption Delays

The QR Bitcoin ETF is not the only cryptocurrency listed on B3. In April, the Brazilian stock exchange began trading the country’s first cryptocurrency-based ETF index, Hashdex HASH11. HASH11 copies the Nasdaq cryptocurrency index, which consists of several cryptocurrencies such as Bitcoin, Ether (ETH), Stellar (XLM), Litecoin (LTC), Bitcoin Cash (BCH) and Chainlink, and balances quarterly.

Bitcoin ETFs are gaining traction in many jurisdictions. Canadian asset manager 3iQ unveiled its Bitcoin ETF on Nasdaq Dubai on Wednesday. Canada is another major country to come forward with the BTC ETF, 3iQ Bitcoin ETF, and CoinShares, which will be launched on the Toronto Stock Exchange in April 2020. Despite growing global acceptance, US regulators have yet to approve the Bitcoin ETF, after delaying several regulatory decisions on these products in recent weeks.

Source: CoinTelegraph

LEAVE A REPLY