- 19 July 2021
- Posted by: admincryptovalues
- Category: Cryptovalues News, World News
There is a lot of talk about ETFs, but there is one country in the world that with the facts is proving to be at the forefront: we speak of Brazil.
The Comissão de Valores Mobiliários (CVM), has given the green light to the approval of the first ETF based on Ethereum. it will be provided by “QR Asset”, a blockchain investment company, which will buy directly Ethereum through the intermediary Gemini that will therefore take care of the custody of the tokens, offering, several advantages to those who will invest.
Brazil has already approved several ETFs based on bitcoin proving to be a forerunner in this form of investment.
Recall the resounding success of the first cryptocurrency ETF launched in the Brazilian market that raised a countervalue of about 112 million dollars, becoming the fifth largest Brazilian ETF.
The key to its success is the fact that it offers investors the possibility of investing in cryptocurrencies in a simple and safe way, avoiding registrations in exchanges or custody of the underlying asset.
The striking feature is that we are dealing with an ETF that will buy, by physical replication, the coins in the market.
Truly incredible what happens in Brazil, while in USA, 13 different operators have requested to SEC the approval of their BTC branded products, but the authority continues to postpone the decision, using its power of delay.
The SEC’s decision on the ETF issue was expected last March 15, but was postponed to June 17, although it was not excluded that there could be a new postponement in order to take more time. The SEC’s worry, which wants to ensure adequate protection for investors, concerns possible manipulation of the markets.
Views antithetical to the Brazilian authority that monitors and encourages these forms of investment, giving effective regulation to protect savers.