Launching the first Bitcoin exchange tradable fund in Latin America
QR Capital, Latin America's largest asset management company, is ready to launch the first Bitcoin exchange traded fund (ETF) on the continent. The new ETF is scheduled to be launched on June 23 on the Brazilian Stock Exchange with a 100% allocation of bitcoins in partnership with BTG Pactual, Easyinvest, Órama, Vitreo, Modal Mais and Inter.
The fund uses the CME bitcoin reference rate, which is the index used by the Chicago Mercantile Exchange (CME) Group for its bitcoin futures contracts. QR Capital claims that the new ETF will help investors who are not eligible to invest in 100% bitcoin-funded funds under the new policies of the Brazilian Stock Exchange Commission (CVM).
This will be the second bitcoin tradable fund to be listed on the Brazilian Stock Exchange. The first cryptocurrency fund previously established in the organization is HASH11, which provides investors with access to a comprehensive portfolio of cryptographic assets.