On March 19 the Brazil Securities and Exchange Commission (CVM) validated two crypto exchange trade funds (ETFs). One of them is a pure BTC ETF and the other one consists of six crypto assets.
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The initiator of the ETFs is a fintech firm QR Capital. The ETFs will be available on The Brazilian Stock Exchange or B3. As reported by CNN Brazil, the registration of the funds will befall by June. The stock symbol will be QBTC11.
Previously 3 ETFs were released in Canada: Purpose Bitcoin ETF, Evolve Bitcoin ETF, and CI Galaxy Bitcoin ETF. In general, this is the 4th case in the world when ETF requests have been approved.
This move may have an impact on accelerating the confirmation of a Bitcoin ETF launch in the USA. CVM, like the SEC, is a member of the International Organization of Securities Commissions (IOSCO), which coordinates industry regulation. At the moment there are four submitted applications with the SEC to issue a BTC exchange trade fund from VanEck, Bitwise, Valkyrie Digital Assets, NYDIG, and WisdomTree.