The Brazilian Securities Commission approved the first Ethereum ETF in Latin America as we can see in today’s latest Ethereum news.

The Brazilian Securities Commission has approved the first exchange-traded fund tracking ETH activities in Latin America. A few months after the Brazilian Securities Commission gave the go-ahead for a Bitcoin ETF, the same thing did for Ethereum and now the funds are managed by QR Asset Management. CVM has agreed to approve a second crypto-focused exchange-traded fund and Ethereum ETF, which will be tickered QETH11 and appear on the country’s B3 exchange under the CME CF reference price. Ether is used by the CME Group. QR Asset Management said in the announcement:

“QETH11 expands the diversification horizon and becomes an easy, safe and regulated option for any investor to invest directly in Ethereum through their preferred broker.”

QR added that the new ETF will use the secure institutional custody provided by the US Gemini Exchange, which is owned and operated by the Winklevoss brothers. It’s worth noting that this is the second exchange-traded fund to be approved in Brazil as the country’s securities regulator has given the go-ahead for a Bitcoin ETF. Additionally, Canada has three active BTC ETFs on its borders, all of which have been approved since the start of the year. At the same time, the US SEC is still rejecting most of the filings while delaying recent efforts by VanEck and SkyBridge Capital.

As recently reported, when ARK Investments, the New York-based investment management firm of Cathie Woods, applied for a Bitcoin ETF a week ago, it joined the ranks of several others. Another U.S. company is hoping to convince the Securities and Exchange Commission to launch a Bitcoin price tracking ETF. However, there is one thing that stands out from the crowd. As reported by the Financial Times, Ark Invest is the first asset manager to disclose the actual fees for the proposed export of Bitcoin ETF offerings.

According to a disclosure form filed with the SEC, Ark Invest has partnered with Switzerland-based ETF provider 21shares AG to offer a Bitcoin ETF ARK 21 Shares, which will be traded on Cboe’s bZX exchange after approval, according to ARKB. In addition, the documents submitted indicate that 21Shares has to pay a plan fee of 0.95% to the latter company in order to use the funds to cover operating costs.

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