Brazil is the second country in America to approve a bitcoin exchange-traded fund (ETF) following the earlier steps of Canada.


The Brazil Securities and Exchange Commission has approved blockchain investment firm QR Capital’s bitcoin EFT, which will trade on the B3 Sao Paulo based exchange.


The fund will trade under the QBTC11 ticker and it is expected to take place by June. This will be the 4th ETF of its kind, following the three ones launched in Canada this year. These first three saw inflows of $564 million in just two days.


The U.S Securities and Exchanges Commission (SEC) acknowledged the application from VanEck to launch BTC ETF, which will be the first of its kind in the US, if approved.