The Colombian Stock Exchange (BVC) is working to list its first Cryptocurrency exchange-traded fund (ETF).
In an interview with the newspaper ForbesNicolás Sánchez, director of Variable Income of the entity, explained that “they are in talks” to launch this financial instrumentthrough the Colombian Global Market (MGC).
The MGC is a stock market system in that country that allows Investors trade foreign stocks and ETFsunder the local regulatory framework. In this way, Colombians would have a way to diversify their investments and participate in the digital asset market.
As CriptoNoticias already explained, the Bitcoin-criptomonedas-futuros-spot-mercados-riesgos/” target=”_blank” rel=”noreferrer noopener”>ETFs offer exposure to the price of an asset, without having to interact directly with it. In the case of bitcoin (BTC) and the rest of the cryptocurrenciesmeans that those people who purchase these products are purchasing shares that represent ownership or part of the fund.
In other words, They are not purchasing or holding digital assets.just as they normally would through a exchange or one wallet.
The possible launch of this ETF coincides with the progress in the cryptocurrency adoption in Colombia. According to the Global Cryptocurrency Adoption Index, That country occupies third place in the regional ranking, behind Brazil and Argentina.
Likewise, it is important to take into account the success that bitcoin ETFs have been having in the United States. Since their appearance on the market, the 12 ETFs have recorded inflows of more than $27 billion.
Inflows and outflows into US bitcoin ETFs. Source: SosoValue.
Meanwhile, funds based on ether (ETH), the native cryptocurrency of the ecosystem Ethereum-eth/” target=”_blank” rel=”noreferrer noopener”>Ethereumreport, to date, income of more than 178 million dollars.
Inflows and outflows into US ether ETFs. Source: SosoValue.
It is important to remember that in Latin America, Brazil is the pioneer country in listing these financial instruments.
As CriptoNoticias reported, the first BTC ETF It was launched in March 2021 by the crypto asset manager Hashdex. The second fund was listed by the Canadian company QR Capital and is also active on the São Paulo Stock Exchange.
In August 2024, in addition, Brazil launched to the market the first solana ETF (SUN) of history. The instrument was introduced on the São Paulo B3 exchange, issued by the digital asset management firm QR Asset and managed by the investment company Vortx.
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