Brazil has become the second country in the Americas after Canada to approve a Bitcoin Exchange Traded Fund while the Central Bank of Nigeria double down on its ban in Cryptocurrency trade.
At the time the Central Bank of Nigeria announced the ban, Nigeria recorded the second highest volume of trade in bitcoins globally after the United States.
The Brazil Securities and Exchange Commission (CVM) has approved blockchain investment firm QR Capital’s bitcoin ETF which will trade on the Sao Paulo-based B3 exchange.
The fund will trade under the ticker QBTC11, QR capital tweeted Friday.
“The QBTC11 will have as reference the CME Group index of bitcoin futures contracts,” QR said.
This will be the fourth ETF of its kind following the three funds that launched on the Toronto Stock Exchange (TSX) in February and March.
The first of these, launched by Purpose Investments, saw inflows of $564 million in its first two days. (Purpose’s ETF uses index information from TradeBlock, a CoinDesk subsidiary.)
The U.S. Securities and Exchanges Commission (SEC) yesterday acknowledged VanEck’s application to launch a bitcoin ETF, which, if approved, would be the first of its kind in the U.S.