Brazil has become the second country in the world to approve the Bitcoin ETF, leaving the USA behind. The Brazilian Securities and Exchange Commission (CVM) gave the green light to the first Bitcoin Exchange Traded fund in Latin America.
QR Capital's Bitcoin ETF will be traded on the QBTC11 exchange on the trillion dollar B3 exchange located in Sao Paulo. The highly respected cryptocurrency comparison CME Bitcoin Reference will be used to determine its net worth (NAV) on a daily basis.
First Bitcoin ETF Surpasses $ 1 Billion
To highlight the importance of the CVM decision, QR Capital cites the fourth Bitcoin ETF for this reason. Brazil became the second country to approve the ETF after three were launched in Canada earlier this year.
An explosive form of February emerged, the first of its kind, Bitcoin ETF. As AUM, it has already exceeded 1 billion.
Clock is ticking in the USA
Bitcoin has yet to get a piece of the $ 5 trillion ETF market in the US. Earlier this year, VanEck, NYDIG and WisdomTree Investments submitted it to the US SEC.
Earlier this week, the regulator VanEck is now formally accepted in the Federal Register. The SEC is expected to make its first decision in early May, after a comment period until April 9.
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