The Latin America’s first Bitcoin Exchange Traded Fund, has been approved by Brazil Securities and Exchange Commission (CVM). The Bitcoin will be traded under the ticker QBTC11 on exchange B3. Backed by the crytpocurrency, after the greenlighted of Canada, the platform is the world second to lauch an ETF
Chicago Mercantile Exchange’s Bitcoin futures index will be used and the price performance of the QBTC11 will track Bitcoin’s price performance.
Brazil is placed at the epicentre of state of the art financial regulation by QBTC11 as stated by QR Capital after approval. QBTC11 is the fourth 100% bitcoin ETF in the world and the first in Latin America and was debuted few weeks after that of Canadian ETF. .
The decision of CVM’s could positively influence a similar action by the U.S regulator, because The Security Exchange Commission and The Brazil Securities and Exchange Commission are member of International Organization of Securities Commissions, (IOSCO).