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The QBTC11, the first bitcoin ETF on the Brazilian stock exchange, will start trading on June 23, according to Exame. The offer is coordinated by BTG Pactual, Easyinvest, Vitreo, Modal Mais and Inter. The fund with 100% exposure to bitcoin is offered by QR Asset Management, manager of the QR Capital Group, and uses the reference rate CME CF Bitcoin Reference. Prior to the launch of the ETF, only qualified investors could invest in funds that allocated a maximum of 20% of their equity to assets abroad.

The market’s view is that the ETF will democratize bitcoin investment.