Launching the first Bitcoin exchange [tradable] fund in Latin America

Launching the first Bitcoin exchange tradable fund in Latin America

QR Capital, Latin America's largest asset management company, is ready to launch the first Bitcoin exchange traded fund (ETF) on the continent. The new ETF is scheduled to be launched on June 23 on the Brazilian Stock Exchange with a 100% allocation of bitcoins in partnership with BTG Pactual, Easyinvest, Órama, Vitreo, Modal Mais and Inter.

The fund uses the CME bitcoin reference rate, which is the index used by the Chicago Mercantile Exchange (CME) Group for its bitcoin futures contracts. QR Capital claims that the new ETF will help investors who are not eligible to invest in 100% bitcoin-funded funds under the new policies of the Brazilian Stock Exchange Commission (CVM).

This will be the second bitcoin tradable fund to be listed on the Brazilian Stock Exchange. The first cryptocurrency fund previously established in the organization is HASH11, which provides investors with access to a comprehensive portfolio of cryptographic assets.

An overview of the cryptocurrency market , February 3

An overview of the cryptocurrency market today

Bitcoin eventually managed to break out of the $ 33,000 to $ 35,000 range and enter the $ 37,000 range. Most replacement coins are still green today.

The price of Bitcoin broke above $ 35,000

After a very volatile week, the price of Bitcoin calmed down somewhat between $ 33,000 and $ 35,000. The cryptocurrency remained in the same range for the next few days until it finally emerged from the consolidation triangle in the last 24 hours.

The first move raised the price of BTC to $ 35,500 (on Bitstamp), while the next move pushed it to a high of around $ 37,000. However, despite the correction in the price of this currency, it still shows a 3% increase.

Technically, the BTC must cross the next resistance lines at $ 37,000, $ 37,700 and $ 38,620 to target the $ 40,000 level.

Conversely, if the asset fails to maintain its uptrend, support levels of $ 34,500, $ 34,000 and $ 33,110 could help.

Altquin Blast

Over the past few days, most of the major altcoins on the market have also been relatively quiet. However, the situation has changed dramatically in the last 24 hours, especially for some of them.

As previously reported, Atrium set a new record in its history. The latest price record for the second largest cryptocurrency on the market is now around $ 1,580.

Ripple also rose 6% to $ 0.38 after its recent dump. Bitcoin Cash (6%), Bainance Coin (2%), Chinlink (3%), Polkadat (7%), Cardano (2.5%) and Light Coin (12%) also rose in price today.

Fantom still has the best performance among the top 100 currencies in the market, reaching $ 0.15 for the second day in a row with 50% growth. UMA (27%), Siacoin (20%), Terra (17%), SwissBorg (13%), Decentraland (13%) and Maker (12%) also follow.

Finally, the total market value has increased by about $ 100 billion since yesterday, reaching $ 1.1 trillion.