March 28, 2024

Brazil follows Canada to launch Bitcoin ETF

Brazil follows Canada to launch Bitcoin ETF

The CVM (Brazilian Securities Commission) has approved Latin America's first exchange traded fund (ETF) forbase Bitcoin (BTC).

Bitcoin ETF of QR Asset Management (tickerQBTC11) will be listed on the B3 Stock Exchange in São Paulo. Bitcoin ETF quotes from Evolve Funds Group will follow the dynamics of the CME CF Bitcoin Reference Rate index from the Chicago Mercantile Exchange (CME Group).

QR Asset Managemen is part ofof the QR Capital group. QR Asset Management manages 423 million reais (~ $ 77 million) crypto assets and serves over 10,000 clients in Latin America.

The QR Capital team informs that the fund has becomethe fourth such regulated investment product based on bitcoin in the world. The previous three have been launched in Canada since early 2021. B3 will be the second stock exchange to offer such an instrument.

Many experts believe that the CVM solution canaccelerate approval of the launch of a Bitcoin ETF in the United States. The Brazilian authority, like the SEC, is a member of the International Organization of Securities Commissions (IOSCO), which coordinates regulation of the industry.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
  • Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
  • Feedback and support– we analyze user reviews and the quality of technical support.
  • Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform Features– availability of additional features — futures, options, staking, etc.
  • final grade– the average number of points for all indicators determines the place in the ranking.

Brazil follows Canada to launch Bitcoin ETF

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