QR Capital’s Bitcoin exchange-traded fund — the first Bitcoin ETF in Latin America — has been listed on Brazil’s stock exchange, according to a report by CoinDesk. The Bitcoin ETF was registered in March to operate on Sao Paulo’s B3 stock exchange under the ticker QBTC11.
- Meanwhile, Canadian asset management firm 3iQ’s Bitcoin ETF has begun trading on the Nasdaq Dubai. Canada has an open regulatory environment for crypto ETFs, and 3iQ is just one of many registered in the country in recent months.
- The U.S. has not been as open to crypto ETFs, however. The SEC has repeatedly rejected applications, citing concerns over potential market manipulation. Nine applications are currently up for review. There was some hope among investors that Canada’s more open approach might soften U.S. regulators’ stance, but the SEC is yet to grant any approvals.
- A crypto ETF is an exchange-traded fund that tracks the value of a cryptocurrency — for instance, Bitcoin — and trades on traditional a market exchange rather than a crypto exchange. Investors are able to invest in Bitcoin without having to go through the hassle of using a crypto exchange, while gaining exposure to its price.