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Brazilian crypto asset managers launch ETFs based on digital currencies

QR Asset and Hashdex launched their ETFs based on the digital currency ether, the second most valuable cryptocurrency, behind bitcoin

Brazilian crypto asset managers launch ETFs based on digital currencies
Foto: REUTERS/Arnd Wiegmann
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Two Brazilian crypto asset managers have announced the launch of ETFs based on the 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.

Vórtx will be the manager of the ETF launched by QR Asset, the shares of which will trade under the ticker QETH11. The fund replicates the price of ethereum following the CME CF Ether Reference Rate index. The Securities and Exchange Commission (CVM) authorization came a month after the manager launched the first bitcoin ETF (QBTC11) on the Brazilian exchange B3.

READ ALSO: Brazil’s Hashdex secures a BRL 135 million Valor Capital-led round to internationalize investments in crypto assets

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

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

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