As the cryptocurrency industry continues to grow with time, more countries are adopting the technology due to its lucrative nature. No matter how much the regulators deny the existence and importance of cryptocurrencies, they are constantly proving their worth.
This is the reason why investors from around the world are finding ways to adopt the technology. So far, countries such as El Salvador have even legalized cryptocurrencies and are utilizing all options to benefit from the industry and boost their economy.
Even after gaining so much exposure, the cryptocurrency industry is still not able to gain the trust of many retail and institutional investors. The reason behind the lack of trust is because the platform lacks regulations, which makes it an unsafe investment.
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However, this does not mean that the investors do not want to invest in this technology. The investors want to benefit from the industry despite the uncertainty. This is the reason why they have come up with a newer way of doing that.
One of the most prominent and useful innovations in the cryptocurrency industry in the year 2021 is exchange-traded funds. Unlike the majority of cryptocurrencies, exchange-traded funds are regulated as they are listed through a stock exchange in the respective country.
This way, the investors find a way to invest in cryptocurrencies but they do it indirectly, instead of doing it directly. This innovation has brought even more people to the cryptocurrency industry as it is gaining more exposure among mainstream institutions.
Canada was the first country in the entire world to give a green signal for the launch of two exchange-traded funds back in February. Since then, several exchange-traded funds have come into being and the number is constantly rising.
This time, it is Brazil that has taken the initiative of approving the first-ever ETF in the country. The sources revealed that it is the securities regulator in Brazil, Comissao de Valores Mobiliarios that has approved the ETF application.
According to reports, the first exchange-traded fund approved by the securities regulator is for Ether (ETH). The announcement around the approval of the ETH ETF has been made by QR Asset Management Company’s holding firm, QR Capital.
The recently approved ETH ETF will reportedly be trading under the ticker “QETH11”. The particular ticker would be trading on the B3 Stock Exchange, which is a highly reputable exchange in Brazil. The B3 Stock Exchange currently serves customers from all over the world and it is operating as a regional exchange.
The ETH ETF will be using the custodial services provided by Gemini, which tends to offer institutional custodial services.
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