New Bitcoin ETFs in Brazil and Dubai officially start trading

New Bitcoin ETFs have started trading in Brazil and Dubai. These are all early successes for the ETF in their respective regions.

Brazil and Dubai both launched their first exchange-traded bitcoin funds today. In Brazil, the regulator-approved Bitcoin ETF QBTC11 from QR Capital began trading on the Brazilian stock exchange (B3) in March. And this is the first South American Bitcoin ETF approved in Brazil.

????BREAKING: Com alta superior a 7%, o QBTC11, o primeiro ETF 100% Bitcoin da América Latina, iniciou agora ha pouco negociações na @ B3_Oficial.

– QR capital (@qrcapital) June 23, 2021

The Dubai Bitcoin ETF, led by 3iQ, manages around $ 1.5 billion in assets. The fund’s CEO, Fred Pye, said in an interview that if the ETF were to become popular, the fund would increase in size.

An ETF is an investment vehicle that enables people to buy stocks that represent an asset. This can be anything from real estate, foreign currency, or Bitcoin. Cryptocurrency ETFs are popular because investors simply buy stocks that track the price of the asset and don’t have to worry about owning a cryptocurrency wallet and keeping that asset safe.

However, the official opening of Bitcoin ETFs in Brazil and Dubai continues to motivate investors to hope that the SEC can approve a Bitcoin ETF in 2021, which is partly helping to change the landscape. .

The SEC has repeatedly denied Bitcoin ETF applications over concerns about market manipulation. There are currently nine Bitcoin ETFs awaiting review by the SEC, although the Commission has so far delayed its decision on some of the ETFs on this list.

See more: SEC expands survey on VanEck’s decision to accept Bitcoin ETF, will miracles come?

Synthetic

You may be interested in: