Latin America's first bitcoin-only ETF to be launched at B3

Charlie Taylor

The Securities and Exchange Commission (CVM) approved the first Bitcoin-only ETF in Latin America at B3, QR Capital's QBTC11 will give Bovespa's investor the opportunity to invest only in BTC for the first time. Valor Investe, in which the executive Fernando Carvalho, founder of the company, gave several details about the product. Among them, the primary offer should turn over R $ 500 million. The Brazilian ETF will follow the CF Benchmarks index, the same used by the Chicago Mercantile Exchange, the first to launch bitcoin and other crypto derivatives in the United States. The move comes after many studies on CVM regulation, Fernando Carvalho told Valor: “We have thoroughly studied CVM Instruction 359 (which deals with ETFs) and extended the challenges that existed in relation to the bitcoin product. Today we understand that the infrastructure is ready for what we are proposing “


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Will QR Capital compete with the first bticoin ETF?

A few days ago Hashdex announced the ETF Hashdex Nasdaq Crypto Index Index Fund (HASH11), which also intends to be listed on B3. But unlike the QBTC11, Hashdex's EF will be pegged with a basket of 6 cryptoactive ones being Bitcoin (78.61%) and Ethereum (16.86%). Bitcoin Cash, Chainlink, Litecoin and Stellar total 4.53%. Being one of the first 4 ETFs in the world, QBTC11 will allow ordinary investors to buy bitcoin without having to store it in a cryptocurrency wallet. In short, Brazilians will be able to expose themselves to BTC without worrying about the unique characteristics of crypto and taking advantage of volatility. This is a great opportunity for institutional investors, who have rocked the cryptocurrency market in the last 6 months. Tesla, MicroStrategy and the Brazilian Yubb are among the dozens of companies that have invested in bitcoin, the cryptocurrency is seen as a safe haven against a possible trend of monetary inflation and devaluation of state money. New products for these big investors started to appear in the Brazilian market. Foxbit, one of the most traditional bitcoin brokers in Brazil, launched Foxbit Business 4 days ago – focused on companies that want to protect themselves from the real. The Brazilian currency was the worst in the world in relation to the dollar among developing and developed countries in 2020 and has performed poorly in 2022.Read too: Company earns nearly $ 100 million in two months after buying BTC

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