This article is from www.blocknews.com.br and the original article can be read here in Portuguese
Brazil is one of the countries with the most cryptocurrency exchange-traded funds (ETFs) in the world, which makes new international players attracted to this potential market that prefers investment in index funds rather than direct exposure to cryptocurrencies. Already present in several European countries, the ETC Group stated that it will “soon” launch in Brazil BTCetc (Bitcoin Exchange-Traded Crypto), the first ETP (Exchange-Traded Product) of crypto traded on the German XETRA exchange and which will be available on B3 with ticker BTCE11.
BTCE11 joins other crypto ETF alternatives already available on B3, such as BITH11 (referenced in the Nasdaq Bitcoin Reference Price), ETHE11 (Nasdaq Ethereum Reference Price) and HASH11 (Nasdaq Crypto Index), all three from the asset manager Hashdex; and QBTC11 (CME CF Bitcoin Reference Rate) and QETH11 (CME CF Ether Reference Rate) managed by QR Asset.
According to company information, the BTCE11 is the first product in an extensive line that ETC Group intends to bring to Brazil. The company’s arrival in the country takes place in partnership with the manager Kanastra, an Asset Management as a Service platform, focused on passive management of structured funds such as FIDCs, FIIs, FIPs and ETFs based on technology, and will be managed by Vórtx, fintech infrastructure for the capital market with more than half a trillion assets on its platform.
Ease of investing
Investing in crypto ETFs is an easy way for the traditional profile investor, who does not intend to have a specific cryptocurrency wallet to store the asset or have expertise in Blockchain technology. ETC Group’s BTCetc is already traded on regulated European exchanges such as XETRA (Frankfurt), Euronext (Amsterdam) and SIX Swiss (Zurich).
“Our arrival in Brazil marks another step in our globalization process, at a time when investors in the country are more mature and interested in diversifying their portfolio with crypto products. We are happy to be able to offer Brazilians yet another option to invest in cryptocurrency-based securities in a safe and regulated environment”, says Veronica Pimentel, Distribution Director for ETC Group for Latin America.
According to information from the ETC Group, in Europe the investor base in BTCetc is mostly institutional. Among them, some of the largest European and American private banks, as well as pension funds.
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