QR Asset Management, asset manager of the holding QR Capital, announced this Wednesday (9) that its bitcoin ETF (Exchange Traded Fund) will be available for trading on the Stock Exchange on June 23rd. It will be the first in Latin America with 100% exposure to cryptocurrency.
BTG Pactual, Easynvest, Órama, Vitreo, Modal Mais and Inter coordinate with the manager the offer of the financial instrument, which was approved by the Brazilian Securities and Exchange Commission (CVM) in March of this year.
The ETF will be traded on B3 with the ticker ‘QBTC11’. The shares can be purchased through home brokers. The minimum investment, according to the company, is R$100.
“QBTC11 allows investors to protect themselves from currency risk by exposing themselves to a dollarized asset and
highly liquid – bitcoin, the largest of all cryptocurrencies, which has a daily turnover of more than R$100 billion, or about 4 times the volume of B3″, said the manager in a note.
The ETF will replicate the CME CF Bitcoin Reference Rate, which is a benchmark for bitcoin futures contracts traded by the Chicago Mercantile Exchange Group – the world’s largest derivatives exchange.
In addition to QR Capital’s new financial product, the Stock Exchange also makes available the Hashdex manager’s cryptocurrency ETF, launched at the end of April.
The Hasdex instrument, whose ticker is ‘HASH11’, is pegged to an index composed of eight cryptocurrencies — the Nasdaq Crypto Index.