Brazil, Dubai Stock Exchange List First Bitcoin ETF!

An ETF is an investment vehicle that allows people to buy shares representing an asset. This can be anything from real estate, foreign currency or bitcoin.

Brazil, Dubai Stock Exchange List First Bitcoin ETF!

Brazil and Dubai both launched their first bitcoin exchange traded funds (ETFs) today.

Blockchain investment firm QR Capital’s Bitcoin exchange traded fund (ETF) began trading on the Brazilian stock exchange today. In March, the Brazilian Securities and Exchange Commission approved QR Capital’s bitcoin ETF to trade under the symbol QBTC11.

In the Middle East, Canadian asset manager 3iQ’s Bitcoin ETF began trading on the Nasdaq Dubai exchange. This is the first crypto ETF in the region and was approved in April.

An ETF is an investment vehicle that allows people to buy shares representing an asset. This can be anything from real estate, foreign currency or bitcoin.

Crypto ETFs are popular because investors can simply buy shares that track the price of an asset without having to worry about having a cryptocurrency wallet and storing it safely.

Dubai’s bitcoin ETF is led by 3iQ, which has about $1.5 billion in assets under management. Its chief executive Fred Pye said in an interview with Reuters today that if the ETF is a big hit, the fund will increase in size.

Brazil, Dubai Stock Exchange List First Bitcoin ETF!

So far, crypto ETFs have been very popular in Canada. When the first bitcoin ETFs began trading on the Toronto Stock Exchange in February, they broke records: the Purpose Bitcoin ETF traded $165 million worth of shares on its first day.

QR Capital CEO Fernando Carvalho said bitcoin’s entry into the stock market is “a historic moment for crypto and traditional financial markets.”

“We can see that the market is maturing in the search for safer and simpler exposure to bitcoin. Our Bitcoin ETF is a milestone for the financial and crypto markets, and Brazilian investors now have a regulated and robust option to buy Bitcoin,” Carvalho said.

Investors are holding out hope that U.S. regulators will approve the first crypto ETF this year. The SEC has repeatedly rejected bitcoin ETF applications due to market manipulation concerns. Nine bitcoin ETFs are currently under SEC review, and so far the SEC has delayed ruling on each one.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/brazil-dubai-stock-exchange-list-first-bitcoin-etf/
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