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The QR team claims that this listing would secure crypto investors by supplying them with much more legal certainty to obtain exposure to Bitcoin “in the most professional way possible.” QR Capital’s CEO, Fernando Carvalho, shared a similar sentiment last year. He encouraged regulatory approvals by saying:
“Unlike what happened in 2017, when thousands of investors bought cryptocurrencies on their own, we believe that in the next upward cycles, regulated funds will be the main investment channel, providing safe and regulated access to the sector.”
The QR team emphasised that the fund was the “fourth in the world” to be approved; three of these ETFs were previously launched in Canada this year. They also disclosed that the acceptance of CVM would only hasten the arrival of a related device in the United States.
However, the US Securities and Exchange Commission has yet to completely sanction Bitcoin ETFs, only recently acknowledging New York-based fund manager VanEck’s filing for a $5 trillion ETF. The agency’s failure to authorise these ETFs attracted fire from SEC Commissioner Hester Pierce, who acknowledged that the SEC had dug itself a “little bit of a hole.”