Brazil launches its first eco-friendly Bitcoin ETF

Brazil launched the first green Bitcoin ETF, BITH11, and now there are 4 crypto-related ETFs on the stock market. Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies.

This will be Brazil’s second ETF with 100% Bitcoin exposure, competing with QBTC11, which has also recently been approved.

Brazil’s first green Bitcoin ETF will use the audit of the German Crypto Carbon Rating Institute (CCRI) to determine the environmental impact of BITH11 investment, enabling it to invest 0.15% of its current assets in carbon credits and environmental protection technologies each year.

Rogerio Santana, director of B3 (Brazil’s major stock exchange), emphasized the importance of this initiative. He pointed out that in addition to complying with national laws and regulations, BITH11 not only has a positive impact on the industry but also on the entire ecosystem. He is also proud to have one of the most extensive cryptocurrency investment products in the entire region.

He said: “The new ETF provides investors with access to the various changes in the world’s leading digital assets in a regulated, safe and sustainable manner, as well as all their growth potential and value stores… With the development of this ETF With the launch, we will also increase the range of ESG products available for B3 in the market.”

In addition, a few days ago, the first 100% Ethereum ETF was also approved. QETH11 is managed by QR Assets and tracks the price behavior of ETH through the CME CF Ether reference interest rate.

In this way, Hashdex and QR Assets control the Brazilian crypto ETF market. The two investment companies also placed the country on the podium with the most diversified exposure to cryptocurrency ETFs.

Brazil has a fairly strict regulatory system for crypto investment, however, the country is also undergoing major regulatory reforms, thanks in particular to its regulatory sandbox. In addition, the growing ecosystem of service providers has washed the face of the entire encryption industry.

Services such as Bank, Alter and Uzzo Pay allow users to have a free bank account and can choose to buy and sell bitcoins at market prices. Users can also use the money in their legal account to pay with a prepaid credit card.

In addition, the popularity of cryptocurrency exchanges has also risen sharply. Despite the resignation of the director of Binance Brazil, Binance has now become the top choice. As people’s interest in cryptocurrencies increases, other crypto exchanges such as Biscoint, Mercado Bitcoin, Ripio, and Satoshitango are also expanding.


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