Brazil Launches First Eco-Friendly Bitcoin ETF

Brazil has launched its first green Bitcoin ETF, BITH11, and now has 4 crypto-related ETFs on the stock market. Brazil continues to make progress in creating new investment opportunities related to cryptocurrencies.

This will be the second ETF in Brazil to offer 100% Bitcoin exposure, competing with QBTC11, which was also recently approved.

Brazil’s first green Bitcoin ETF will use an audit by Germany’s Crypto Carbon Rating Institute (CCRI) to determine the environmental impact of BITH11’s investments, allowing it to invest 0.15% of its liquid assets in carbon credits and environmentally friendly technologies each year.

Rogerio Santana, Director of B3 (the main stock exchange in Brazil), stressed the importance of this initiative, noting that in addition to complying with the country’s laws and regulations, BITH11 has a positive impact not only on the industry but also on the entire ecosystem. He is also proud to have one of the widest range of cryptocurrency investment products in the entire region.

He said: “The new ETF gives investors exposure to the full spectrum of the world’s leading digital asset, with all its growth potential and store of value, in a regulated, secure and sustainable manner….With the launch of this ETF, we will also increase the range of ESG products that B3 can choose from in the market.”

In addition, a few days ago, the first 100% Ethereum ETF was approved. QETH11 is managed by QR Assets and tracks the price action of ETH through the CME CF Ether Reference Rate.

In this way, Hashdex and QR Assets control the Brazilian crypto ETF market. The two investment companies also put the country on the podium with the most diverse cryptocurrency ETF exposure.

Brazil has a fairly strict regulatory regime when it comes to crypto investments, however, the country is also undergoing significant regulatory reforms, particularly thanks to its regulatory sandbox. In addition, a growing ecosystem of service providers has cleaned up the entire crypto industry landscape.

Services such as Z.ro Bank, Alter and Uzzo Pay allow users to have a free bank account with the option to buy and sell Bitcoin at market prices. Users can also pay with prepaid credit cards using money from their fiat accounts.

Additionally, the popularity of cryptocurrency exchanges has also increased significantly. Despite the resignation of Binance Brazil’s director, Binance is now the preferred choice. Other crypto exchanges such as Biscoint, Mercado Bitcoin, Ripio, and Satoshitango are also expanding as interest in cryptocurrencies increases.