Law360 (March 19, 2021, 5:13 PM EDT) -- Brazil's securities regulator has approved QR Asset Management's plan for Latin America's first bitcoin exchange-traded fund, making Brazil's B3 the second exchange in the world to have a fully bitcoin-based ETF, according to a Friday announcement.
The Brazilian Securities and Exchange Commission gave the green light for the fund, dubbed QBTC11, and it will list on Brazilian stock exchange B3 SA, the announcement said. QR Capital, an affiliate of QR Asset Management, announced the news on Twitter Friday.
"We at QR Capital are proud of this important advance in the crypto environment in Brazil," the company said.
The fund will be...
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