{"id":459130,"date":"2021-03-20T20:53:21","date_gmt":"2021-03-20T20:53:21","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459130"},"modified":"2021-03-20T20:53:21","modified_gmt":"2021-03-20T20:53:21","slug":"brazil-approves-bitcoin-etf-skybridge-files-for-its-own","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/brazil-approves-bitcoin-etf-skybridge-files-for-its-own\/","title":{"rendered":"Brazil approves Bitcoin ETF \u2013 SkyBridge files for its own"},"content":{"rendered":"
Brazil Securities and Exchange Commission (CVM) approved<\/a> Latin America\u2019s first Bitcoin Exchange Traded Fund (ETF). Requested by firm QR Asset Management, their Bitcoin ETF will trade under the ticker QBTC11 on exchange B3.<\/p>\n This platform is the world second to launch a ETF backed by the cryptocurrency, after Canada greenlighted one in February.<\/p>\n The QBTC11 will track Bitcoin\u2019s price performance and will use Chicago Mercantile Exchange\u2019s Bitcoin futures index and CF Benchmarks price as a reference. Upon the approval, QR Capital stated:<\/p>\n QBTC11 places Brazil at the epicenter of state-of-the-art financial regulation. In addition to being the first 100% Bitcoin ETF in Latin America, QBTC11 is the fourth in the world and comes a few weeks after the launch of the three Canadian ETFs.<\/p><\/blockquote>\n The Brazil Securities and Exchange Commission and the Securities Exchange Comission (SEC) are member of the The International Organization of Securities Commissions (IOSCO<\/span>). Therefore, CVM’s decision could positively influence a similar action by the U.S. regulator. QR Capital claimed:<\/p>\n This is important because the clearance of QBTC11, like the first three Canadian Bitcoin ETFs, can and should serve as substance for ETF orders in the United States.<\/p>\n This common move between regulatory authorities is referred to as the Benchmark Regulation.<\/p><\/blockquote>\n In the United States, Bitcoin ETF petitions are piling up. SkyBridge Capital, founded by Anthony Scaramucci<\/a>, and First Trust Advisors are the latest firms to introduce an S-1 for this financial product with the regulator. The \u201cFirst Trust SkyBridge Bitcoin ETF Trust<\/a>\u201d would offer shares traded on the exchange NYSE Arca.<\/p>\n Meanwhile, SEC Commissioner Hester Pierce recently called for a more \u201c positive\u201d look at cryptocurrencies. For Pierce, the SEC has waited too long to approve such a financial product. The Commissioner said<\/a>:<\/p>\n (Institucions) want access to crypto trough a regulated market. It makes sense for us to consider how to do that (\u2026). We\u2019ve dug ourselves into a little bit of a hole. A lot of people are looking for a way to access the asset class.<\/p><\/blockquote>\n Currently, Bitcoin is trading at $59,125 with side movement (-0,8%) in the past day.<\/p>\nMore institutions file for a Bitcoin ETFs<\/h2>\n