Brazilian Regulator Approves First Ethereum ETF In Latin America

The Brazilian Securities Commission (CVM) has approved South America's first Ethereum-based exchange-traded fund to be managed by QR Asset Management. The Ethereum ETF will receive the ticker QETH11 and will be listed on the Brazilian B3 Stock Exchange.

As a reminder, the US Securities and Exchange Commission (SEC) is currently considering applications for Bitcoin ETFs from ARK Invest, One River, VanEck and Fidelity. The US regulator has not approved any cryptocurrency exchange-traded fund.

In April of this year, Canada's financial regulator approved the launch of three Ethereum-based ETFs – the Purpose Ether ETF, the CI Galaxy Ethereum ETF, and the Evolves Ether ETF. The American crypto exchange Gemini is responsible for storing the cryptocurrency for these funds.

Image: Cryptoast