Crypto

Brazilian regulator approves QR asset management plan

In Brazil, cryptocurrency news travels fast. Really, Comissão de Valores Mobiliários (CVM), the Brazilian securities regulator, recently approved the company QR asset management to launch your ETF Ethereum under ticker QETH11.


3D rendering of some metallic bitcoins in front of a Brazilian flag icon

QR asset management can run QETH11

QETH11 will be listed on the well-known Brazilian exchange B3, which operates as a regional exchange. In order for customers to use it QR asset management, QETH11 will be based on the same hint Ether than the one used by the CME Group. In addition, according to official information, QETH11 will rely on the services offered by Twins

In the announcement of the launch of its new ticker, QR asset management presents it as “but simple, safe and adjustable option allowing any investor to gain direct access to Ethereum (ETH) through their preferred brokerage firm without having to worry about stock exchange listings, wallets or private keys. “

The company strives to provide good quality services with support optimal level of transparency to respond to all investor inquiries. Its CEO, Fernando Carvalho, said Cointelegraph Brazil that the Brazilian authorities should consider approving first crypto ETF in the USA

“Brazilian regulators recognize the maturing cryptocurrency market and recognize the importance of offering regulated products to investors wishing to explore these new asset classes. We hope these signals from Brazil will prompt the SEC to approve the first US crypto ETF. “

Divergence of views

Last March, CVM approved the rollout of two cryptocurrency ETFs. The first one only applies to bitcoins (BTC) and is managed QR Asset Management. As for the second, which includes five cryptocurrencies in addition to BTC, it is traded on B3.

Meanwhile, in the US and some countries, securities regulators continue to postpone deployment of crypto ETFseven if investor demand is growing and more than it was in the past.

Now that she made a deal Comissão de Valores Mobiliários (CVM), QR asset management will be able to launch its new ticker QETH11. Although he is satisfied with the permission he received, Mr. Carvalhothe CEO of the company has doubts about the future. He hopes that in order for them to disappear, regulators will eventually adopt and recognize America’s first crypto ETF.

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The comments and opinions expressed in this article are those of the author only and should not be construed as investment advice. Do your own research before making any investment decisions.

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