Qr Asset Management

What Qr Asset Management does

QR Asset Management (legal name: QR ASSET GESTORA DE RECURSOS LTDA) is a Brazilian asset management firm that operates exclusively in cryptocurrency and blockchain investment products, headquartered in São Conrado, Rio de Janeiro. The firm issues and manages four exchange-traded funds listed on the B3 Brazilian stock exchange — QBTC11 (100% Bitcoin, tracking the CME CF Bitcoin Reference Rate), QETH11 (100% Ethereum), QDFI11 (tracking the Bloomberg Galaxy DeFi Index), and QSOL11 (Solana) — alongside two managed funds, QR Blockchain Assets I FIM and QR Bitcoin Hedge FIM. The firm operates with 11–50 employees and is regulated by Brazil's Securities Commission (CVM) under Ato Declaratório CVM n.º 17.553 and CVM Instruction 558/15, with ANBIMA compliance.

QR Asset reaches investors through the B3 secondary market, enabling single-share-lot purchases via any authorized broker or home-broker terminal in Brazil, and through a network of distributor broker-dealers including Ability Wealth Management. Institutional investors access the primary market via 100,000-share creation/redemption lots settled through administrator Vórtx. The firm reports approximately R$ 614,668 thousand in assets under management (roughly USD 105 million per the company's own conversion) and more than 50,000 direct and indirect customers. Marketing relies on educational content, weekly market summary newsletters, and significant earned media in Forbes, CNN Brasil, CoinDesk, Valor Econômico, O Globo, Exame, Veja, and Cointelegraph.

QR Asset generates revenue primarily through recurring management fees on its ETFs and funds (for example, 0.9% per annum on QDFI11, plus per-cotist administration fees to Vórtx), with cross-border FX and trading costs passed through to investors on primary-market subscriptions. As the issuer of Latin America's first Bitcoin ETF (QBTC11, March 2021) and the world's first DeFi ETF (QDFI11, 2022), the firm occupies a first-mover position in regulated crypto-asset management in the region, serving Brazilian retail and institutional investors seeking diversified, CVM-authorized crypto exposure without direct wallet custody.

Name

Qr Asset Management

Legal name

QR ASSET GESTORA DE RECURSOS LTDA

Website

https://qrasset.com.br

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

QR Asset Management is a Brazilian, CVM-authorized asset manager that issues and manages four crypto-backed ETFs (QBTC11, QETH11, QDFI11, QSOL11) and two managed funds listed on B3, serving more than 50,000 retail and institutional investors in Brazil and Latin America.

Ownership category

akta.pro rank

Product category

Cryptocurrency Asset Management

NAICS

Open-End Investment Funds (525910), Open-End Investment Funds (52591)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Active Crypto Asset Managers (Discretionary) (FSADAHAA)

Keywords

• Cryptocurrency asset management
• Crypto ETF management
• Blockchain investment funds
• Digital asset management
• Regulated crypto funds

Headquarters

HQ city

Jardim

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. ETF Management Fees: QR Asset Management earns revenue through management fees charged on its ETFs and investment funds. The QDFI11 ETF charges 0.9% per year in administration fees. Additional fees include registration fees, settlement fees, and brokerage/custody costs passed through to investors. The firm also earns fees from fund management of QR Blockchain Assets I FIM and QR Bitcoin Hedge FIM.
2. ETF Registration and Administration Services: Revenue from the Vórtx administrator services includes a base monthly registration fee of R$2,000 plus per-cotist fees based on shareholder count tiers (R$1.40 for up to 2,000, R$0.95 for 2,001-10,000, R$0.40 for above 10,000), a monthly bank liquidator fee of R$1,200, and per-event charges for TED payments and registrations. These are paid by the fund but managed through the partnership.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

QR Asset Management is a Brazilian CVM-authorized asset manager that issues and manages exchange-traded funds (ETFs) and investment funds providing regulated exposure to cryptocurrencies and blockchain assets. Its product lineup includes four B3-listed ETFs (QBTC11 Bitcoin, QETH11 Ethereum, QDFI11 DeFi tracking Bloomberg Galaxy DeFi Index, QSOL11 Solana) and two managed funds (QR Blockchain Assets I FIM and QR Bitcoin Hedge FIM). The firm enables Brazilian retail and institutional investors to access crypto markets through conventional brokerage channels without holding private keys or wallets.

Product overview

QR Asset Management is a cryptocurrency asset manager offering a portfolio of ETFs and investment funds. The product lineup includes four ETFs: QBTC11 (100% Bitcoin), QETH11 (100% Ethereum), QDFI11 (World's first DeFi ETF tracking Bloomberg Galaxy DeFi Index), and QSOL11 (Solana). Additionally, the company offers two funds: QR BLOCKCHAIN ASSETS I FIM and QR BITCOIN HEDGE FIM. All products are regulated by CVM, listed on B3, and are marketed to Brazilian investors seeking exposure to cryptocurrency and blockchain markets.

Differentiator

Problem solved

Functional benefit

Brands

• QR BLOCKCHAIN ASSETS I FIM: A managed crypto fund (FIM) offering exposure to blockchain assets.
• QR BITCOIN HEDGE FIM
• QBTC11
• QETH11
• QDFI11
• QSOL11

Products and services

• QBTC11 (Bitcoin ETF) 100% Bitcoin ETF listed on the B3 Brazilian stock exchange, tracking the CME CF Bitcoin Reference Rate. Allows Brazilian investors to gain regulated exchange-traded exposure to Bitcoin through standard brokerage accounts.
• QETH11 (Ethereum ETF) 100% Ethereum ETF listed on B3, providing Brazilian investors with regulated exposure to the Ethereum asset.
• QDFI11 (DeFi ETF) World's first decentralized finance (DeFi) ETF, tracking the Bloomberg Galaxy DeFi Index developed by Bloomberg and Galaxy Digital. Provides exposure to selected DeFi protocols with insurance policy coverage and a 0.9% per annum administration fee.
• QSOL11 (Solana ETF) ETF providing exposure to the Solana blockchain's native token, listed on B3 for Brazilian investors.
• QR Blockchain Assets I FIM Managed investment fund (Fundo de Investimento Multimercado) offering diversified exposure to blockchain assets for Brazilian investors. Reported 217.68% return since inception.
• QR Bitcoin Hedge FIM Hedge fund structure (FIM) with Bitcoin exposure, designed to combine crypto market participation with risk management through hedging strategies. Reported 130.89% return since inception.

Quantifiable outcome

• R$ 614,668 million in assets under management with 50,000+ direct and indirect customers
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• B3 (Brasil, Bolsa, Balcão)coreChannel Partner/ Reseller/ Distributor · 1 October 2020B3 is the Brazilian stock exchange where all QR Asset Management ETFs (QBTC11, QETH11, QDFI11, QSOL11) are listed and traded. B3 provides the trading platform, settlement, custody, and regulatory oversight for ETF operations, including publishing the INAV (Net Asset Value) during trading sessions.
• Vórtx Distribuidora de Títulos e Valores Mobiliários LTDAcoreImplementation/ SI/ Consulting PartnerVórtx serves as the ETF administrator, managing share issuance and redemption, maintaining shareholder registries, calculating net asset values, and providing custodian and bank liquidator services. Vórtx charges registration fees, per-cotist fees, and bank settlement fees for these services.
• Bloomberg Index Services LimitedcoreTechnology or IntegrationBloomberg, in partnership with Galaxy Digital, developed the Bloomberg Galaxy DeFi Index that QDFI11 tracks. Bloomberg provides index licensing, calculation methodology, and real-time index data. The QDFI11 ETF operates under a Master Index License Agreement and Service Schedule with Bloomberg.
• Galaxy DigitalcoreTechnology or IntegrationGalaxy Digital co-developed the Bloomberg Galaxy DeFi Index with Bloomberg, providing the underlying DeFi protocol expertise and market knowledge used to select the DeFi tokens included in the index and the QDFI11 ETF's investment universe.
• Ability Wealth Management (ability-wm.com.br)minorChannel Partner/ Reseller/ DistributorAbility WM serves as a distributor partner offering QR Asset Management's ETF products through its investment portal. The company provides a direct investment link from its website (bre.ability-wm.com.br/wm/iportal/auth/home/QRASSET) enabling new investors to register and invest in QR Asset products.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Galaxy Digital: Diversified crypto financial services firm that co-developed the Bloomberg Galaxy DeFi Index tracked by QR Asset's QDFI11. Operates asset management, trading, and investment banking arms, with overlapping crypto fund management capabilities.
• VanEck: Global asset manager with a dedicated crypto product suite including Bitcoin and Ethereum ETFs/ETPs. Comparable in offering regulated crypto investment vehicles, though as part of a much broader traditional asset management business spanning equities, fixed income, and commodities.
• WisdomTree: Global asset manager offering crypto-themed ETPs and ETFs as part of a broader multi-asset product lineup. Comparable in delivering crypto exposure through listed products but operates at much larger scale across multiple geographies.
• Grayscale Investments: Largest dedicated crypto asset manager globally, offering single-asset and diversified crypto investment products. Highly comparable business model to QR Asset's ETF/fund structure but at substantially larger scale and broader geographic reach.

Regional players

• Purpose Investments: Canadian asset manager that launched the world's first Bitcoin ETF, with comparable pioneering product positioning and ETF structure, though focused on Canadian investors rather than Brazilian/Latin American markets.
• 3iQ Digital Asset Management: Canadian crypto asset manager that pioneered the first North American Bitcoin ETF on the Toronto Stock Exchange, with a comparable regulatory-first ETF model serving a different geography (Canada vs Brazil).

Direct peers

• Bitwise Asset Management: US-focused crypto asset manager offering single-asset and thematic crypto ETFs and managed funds. Comparable to QR Asset in product taxonomy (Bitcoin, Ethereum, DeFi-themed products) and regulated ETF distribution.
• CoinShares: European digital asset investment manager offering listed crypto ETPs and managed funds, directly comparable to QR Asset in business model (crypto ETFs and funds) though focused on European regulated markets.
• 21Shares: Global crypto ETP provider offering single-asset and thematic crypto exchange-traded products, directly comparable to QR Asset's ETF model in product structure (cryptocurrency-backed listed products) though operating primarily in Europe and via cross-listing globally.
• Hashdex: Brazilian crypto asset manager that launched crypto ETFs on B3, including Bitcoin and Ethereum ETFs, and was part of the wave of CVM-authorized crypto product issuers directly competing with QR Asset in the same regulatory and exchange ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/qr_asset
• YouTubeyoutube.com/c/QRCapital
• LinkedInlinkedin.com/company/qrasset
• Instagraminstagram.com/qrcapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qr Asset Management