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Brazil becomes first country in Latin America to approve a Bitcoin ETF

RIO DE JANEIRO, BRAZIL - Brazil has become the second country in the Americas to approve a bitcoin (BTC, +2.14%) exchange-traded fund (ETF) following the three launched in Canada this year.

The Brazil Securities and Exchange Commission (CVM) has approved blockchain investment firm QR Capital's bitcoin ETF which will trade on the Sao Paulo-based B3 exchange.

The fund will trade under the ticker QBTC11, QR capital tweeted Friday. "The QBTC11 will have as reference the CME Group index of bitcoin futures contracts," QR said. Reuters reported Friday the ETF listing will take place by June.

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