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Brazil Becomes Second Country in the Americas to Approve a Bitcoin ETF

The Brazil Securities and Exchange Commission (CVM) has approved QR Capital's bitcoin ETF which will trade on the Sao Paulo-based B3 exchange.

By Jamie Crawley
AccessTimeIconMar 19, 2021 at 3:55 p.m. UTC
Updated Mar 9, 2024 at 2:01 a.m. UTC
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Brazil has become the second country in the Americas to approve a bitcoin exchange-traded fund (ETF) following the three launched in Canada this year.

  • The Brazil Securities and Exchange Commission (CVM) has approved blockchain investment firm QR Capital's bitcoin ETF which will trade on the Sao Paulo-based B3 exchange.
  • The fund will trade under the ticker QBTC11, QR capital tweeted Friday.
  • "The QBTC11 will have as reference the CME Group index of bitcoin futures contracts," QR said.
  • Reuters reported Friday the ETF listing will take place by June.
  • This will be the fourth ETF of its kind following the three funds that launched on the Toronto Stock Exchange (TSX) in February and March.
  • The first of these, launched by Purpose Investments, saw inflows of $564 million in its first two days. (Purpose's ETF uses index information from TradeBlock, a CoinDesk subsidiary.)
  • The U.S. Securities and Exchanges Commission (SEC) yesterday acknowledged VanEck's application to launch a bitcoin ETF, which, if approved, would be the first of its kind in the U.S.

See also: Valkyrie Files for an ETF That Would Invest in Firms With Bitcoin on Their Balance Sheets

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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