The Brazilian Securities Commission (CVM) has authorized the first exchange-traded fund (ETF) in Latin America that tracks the performance of Ethereum (ETH), according to the local media outlet Exame.
On Tuesday, July 13 several months after giving the go-ahead for a Bitcoin (BTC) ETF, Brazil’s watchdog approved a product that replicates the performance of the second-largest cryptocurrency, ETH, with QR Asset Management administering the fund.
The Ethereum ETF will be listed on the country’s stock exchange, B3, under the ticker QETH11. Moreover, it will follow the CME CF Ether Reference Rate, as used by the CME Group.
