The mass adoption of digital assets continues. This has been one of the main goals that the crypto industry has set and the momentum is still here.
ETH ETF approved in Brazil
It’s been just revealed that the Brazilian Securities Commission (CVM) just approved an exchange-traded fund (ETF) that tracks the performance of Ethereum (ETH).
The inline publication the Daily Hodl notes that the blockchain investment firm QR Capital, the holding company of QR Asset Management, says the Ethereum ETF will be traded on the country’s stock exchange, B3, with the ticker QETH11.
QETH11 is the first ETF exchange-traded fund to be approved in Latin America.
“QETH11 follows the same Ethereum index used by the CME Group, the CME CF Ether Reference Rate. For this, the ETF buys physical Ethereum and carries out custody with transparency and security for you.”
It’s also important to note the fact that the new ETF will use the institutional custody provided by Gemini, the crypto exchange owned by Cameron and Tyler Winklevoss.
“Expanding the horizon of diversification, QETH11 becomes a simple, safe and regulated option for any investor to gain direct exposure to Ethereum through their preferred brokerage without worrying about registrations in exchanges, wallets or private keys.”
Jack Dorsey supports the mass adoption of Bitcoin
Jack Dorsey revealed something that’s really bullish for the crypto space. It has Bitcoin as the main character as you will see from his announcement below.
It’s been reported that Square creating a new company focused on non-custodial, permissionless, and decentralized financial services with a primary focus on Bitcoin.
Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD.
— jack (@jack) July 15, 2021
Dorsey made sure to point out the fact that this will be done completely in the open.