Latin America's First Bitcoin ETF Made Its Debut on Brazil Stock Exchange

The Latin America's first Bitcoin ETF, presented by QR Capital, a Brazilian blockchain investment firm and asset manager, made its debut on Brazil Stock Exchange after being approved by Brazilian Securities and Exchange Commission in last March.

According to QR Capital CEO Fernando Carvalho, their product is pioneering how companies approach cryptocurrency investments in Brazil. Carvalho stated:

We can see the market maturing in its search for safer and simpler bitcoin exposure options. Our bitcoin ETF is a landmark for both financial and crypto markets, once it is the convergence point between them. The Brazilian investor has now a regulated and robust choice to buy bitcoin.

Though cryptocurrencies are facing tightening regulations and crackdown from China​, the product had a good starting session, with bitcoin prices recovering 7% during initial trading hours. 

QR's Bitcoin ETF also has a relatively low administration fee of 0.75% annually, in order to encourage small investors to enter the crypto investment world in regulated fashion.​