A password will be e-mailed to you.

Latin America’s First Ethereum ETF has been approved

Latin America’s First Ethereum ETF has been approved by the Brazilian Securities regulator. The ETF will track the performance of Ethereum and will give everyone an investment opportunity in the same. Due to the regulated nature of the ETF, the tax will be properly maintained. At the same time, it will also be an investment opportunity for those who want to invest in crypto but not directly.

Latin America’s First Ethereum ETF

The Brazillian regulators approved the ETF on 13th July. This particular ETF was filed by QR Asset Management, and they said that the same would be listed on the Brazilian stock exchange pretty soon. Considering this is the first ETH ETF in Latin America, it is expected to drive up participation in Ethereum investments. At the same time, being a government-approved investment will also bring many sceptics on board with crypto.

Latin America's First Ethereum ETF

The ETF will be called the QETH11, and in order to price itself, it will follow the reference rate of Ethereum. They will purchase the Ethereum required for the ETF from the open market. And in order to provide user custody, the company is using Gemini’s custodian options.

This is Big

A few weeks back, I remember writing about the first Bitcoin ETF of Latin America. Even that ETF was launched by the same asset management company and went under the ticker name QBTC11. The constant approval of new ETFs is expected to increase the exposure of institutional giants to the cryptocurrency. This is, in turn, going to increase the investments and hence the price of the cryptocurrencies.

After the first gold ETF was approved in the US, the price of gold increased straight for the next decade. Even with crypto, we can expect to see a similar revolution with the advent of ETFs. The SEC in the US has already said that they might soon approve one as it is not their duty to approve or reject investment tools based on the underlying asset it is tracking. So, altogether we are looking at a pretty positive scenario here.

What are your thoughts on Latin America’s First Ethereum ETF being approved by the SEC? And do you think the US will soon start approving ETFs too? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Baby Doge falls by 40% as markets dip and hype falls apart.



No more articles
Send this to a friend