In the South American country of Brazil, BTG Pactual, one of the country's largest investment banks, has launched a fund that allows investing in Ethereum.
In the statement made by BTG Pactual; The fund called BTG Pactual Reference Ethereum 20 invests in 20% Ethereum with 80% fixed income. The fund can be traded with a minimum investment of 100 Brazilian Reais ($17.74) and an annual management fee of 0.5%. The bank also launched two Bitcoin-focused funds earlier this year.
André Portilho, partner of TG Pactual and Head of Digital Asset, made the following statement on the subject:
“Democratizing access to the crypto-asset market has been one of our goals in creating these products… Crypto is already known all over the world and Brazilian investors are following the growing interest in this industry. On the other hand, they do not have to follow the necessary bureaucracy… Now, they do not have to follow the same ease as they are used to when investing in any fund. They can take that risk."
Brazil launched several crypto funds this year. One of them was QR Capital's Ethereum ETF with the symbol QETH11.