Brazilian crypto asset managers launch ETFs based on digital currencies

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Two Brazilian crypto asset managers have announced the launch of ETFs based on digital currency ether: QR Asset and Hashdex. Ether is the digital currency used within the Ethereum blockchain platform and the second most valuable cryptocurrency, behind bitcoin.

Vrtx will be the manager of the ETF launched by QR Asset, whose shares will be traded under the ticker QETH11. The fund replicates the price of ethereum according to the CME CF Ether Reference Rate. The Securities and Exchange Commission (CVM) clearance came a month after the manager launched the first bitcoin ETF (QBTC11) on the Brazilian exchange B3.

READ ALSO: Brazil’s Hashdex Secures BRL 135 Million Round Led By Valor Capital To Internationalize Investments In Crypto Assets

CVM also authorized the launch of Hashdex’s 100% Ethereum ETF in July. The product will have the ETHE11 ticker and should be available from B3 in August.

Hashdex also announced the start of the reservation period for the BITH11 ETF – a 100% bitcoin product with a sustainable footprint. According to the company, this is the first crypto ETF that will replicate a fund that neutralizes carbon emissions from mining the asset. The product should arrive on B3 in the first half of August. XP, Ita BBA and Banco Genial will be the coordinators of the new ETF offer.

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