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The QR CME CF Bitcoin Reference Rate ETF (QBTC11) is a Brazilian exchange-traded fund designed to provide exposure to Bitcoin through investments linked to the CME CF Bitcoin Reference Rate. The ETF is managed by QR Capital Gestão de Recursos Ltda. and trades under the ticker QBTC11 on the B3.
Classified as a cryptocurrency ETF, the fund follows a passive management strategy. Its structure invests in financial instruments linked to Bitcoin, seeking to reflect the performance of the cryptocurrency in international markets without requiring investors to directly custody digital assets.
Composition / Exposure profile
QBTC11 provides exposure primarily associated with:
- Bitcoin-linked financial instruments.
- Cryptocurrency markets.
- Digital assets.
- Institutional Bitcoin exposure.
- Blockchain-related investment themes.
- Global crypto markets.
- Alternative investment strategies.
- International digital-asset exposure.
The ETF’s performance is particularly sensitive to fluctuations in Bitcoin prices, cryptocurrency-market volatility, and changes in institutional and retail demand for digital assets.
Regulatory developments, macroeconomic conditions, liquidity trends, and shifts in global risk appetite may directly affect the fund’s behavior. The ETF may also reflect developments associated with Bitcoin adoption, blockchain infrastructure growth, and changes in the broader digital-asset ecosystem.
Structure and costs
QBTC11 shares trade on the secondary market on the B3 during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF’s market price with its net asset value (NAV).
The fund charges a management fee and does not apply a performance fee. QBTC11 does not provide recurring income distributions, as gains generated by the portfolio are reinvested into the fund structure.
Because the ETF maintains exposure to cryptocurrency markets, its performance may exhibit significant volatility and sensitivity to changes in digital-asset prices and investor sentiment.
History and evolution of the ETF
The QR CME CF Bitcoin Reference Rate ETF was launched in Brazil with the objective of facilitating access to Bitcoin through a regulated exchange-traded structure on the B3.
Since inception, the fund has become part of the growing cryptocurrency ETF segment in the Brazilian market, reflecting increasing investor interest in digital assets and blockchain-related investment opportunities.
In recent years, QBTC11 has reflected fluctuations in Bitcoin prices and developments across global cryptocurrency markets, influenced by institutional adoption trends, supply-and-demand dynamics, regulatory developments, and international macroeconomic conditions.
Additional Information
QR CME CF Bitcoin Reference Rate ETF (Brazil) is an exchange-traded fund (ETF), with assets under management totaling $811.25 Millions.
Over the past 12 months, QR CME CF Bitcoin Reference Rate ETF recorded a return of -44.27%, with its price trading between $18.82 and $40.16 during the same period.
The ETF is traded under the ticker QBTC11.
