The First Eco-Friendly Bitcoin ETF (BITH11) Successfully launched by Brazil.
Brazil is making progress in creating new investment opportunities related to cryptocurrencies. and now they have even launched a new bitcoin ETF.
But the Hashdex proposal is different for competitors who manage its QR assets. It seeks to neutralize carbon emissions from bitcoin deposits and thus turning to a greener alternative.
The Cryptocurrency Rating Institute (CCRI) in Germany, also known as the first green bitcoin ETF in Brazil, estimates the environmental impact of BITH11 investment, allowing 0.15% of its liquid assets to be invested in carbon credits and environmentally friendly technologies.
B3 one of the leading crypto exchange’s director Rogerio Santana, stressed the importance of this initiative, saying that BITH11 will have a positive impact not only on the industry but also on the entire ecosystem and also that he is proud to be one of the most comprehensive cryptocurrency investment offers in the region currently.
Following these happenings, a few days ago, the first 100% Ethereum ETF was also approved. QR CME CF controls ether reference rate or QETH11, QR assets and tracks the pricing nature of ETH through CME CF ether reference rate.
Thus by following up this way the Hashdex and QR Assets control the Brazilian crypto ETF market. The two investment firms put the country on the podium with the most diverse exposure to cryptocurrency ETFs.
However as far as crypto investments are concerned, Brazil has a very strict regulatory system for crypto deposits, however, the country is undergoing a major regulatory reform, especially thanks to its regulatory sandbox. In addition, the growing habitat of service providers has washed the face of the entire crypto industry with a whole new aspect.
Various service providers like Z.ro Bank, Alter, and Uzzo Pay are offering people with a free bank account together with an option to perform various activities like buying and selling of cryptocurrencies at their current market rates, even more, the users can also pay with prepaid credit cards that are backed with fiat money accounts.