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CEDEARs are not subject to income tax.
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When investing in ETFs, you don’t actually own the underlying asset but rather a stock.
BYMA and Banco Comafi have presented new Argentine certificates of deposit (CEDEAR) ETFs, which include digital assets for the first time.
Starting tomorrow, December 5, Argentine investors will be able to access the ETFs ofBitcoin/” target=”_blank” rel=”noreferrer noopener”> bitcoin (BTC) and Ethereum/” target=”_blank” rel=”noreferrer noopener”>ether (ETH) issued and managed by the company BlackRock (which operate with the tickers IBIT and ETHA, respectively).
As CriptoNoticias has reported, both ETFs They were released this year in the US market and seek to replicate the price volatility of BTC and ETH.
A significant advantage of operating with these financial products is that the profitability derived from the sale of CEDEARs—unlike what happens when buying and selling cryptocurrencies— is not subject to income taxwhich increases its attractiveness. The disadvantage is that you do not actually own BTC or ETH, but rather a share which represents a fraction of the asset, which is in the custody of a third party.
The arrival of bitcoin and ether ETFs can greatly facilitate institutional adoption by the Argentine market. Many companies and institutions prefer to have exposure to instruments regulated by the National Securities Commission rather than purchasing and storing cryptocurrencies themselves.
Also, this opens the possibility that bitcoin and ether (or, rather, the ETFs that represent them), reach common investment funds (FCI) managed by Argentine companies.
In addition to bitcoin and ether ETFs, other new CEDEAR that arrive tomorrow at the Argentine stock market are GLD (which follows the price of gold), SH (inversely replicates the performance of the S&P500) and FXI (providing exposure to the Chinese market).
In order to invest in these or other CEDEARs, you must have a client account with a stock broker (for example Cocos, InvertirOnline, BullMarket, etc.). Many banking entities in Argentina also have this function within their digital platforms.
What is a CEDEAR?
CEDEAR (Argentine certificates of deposit) They are financial instruments issued by Argentine depository banks that represent foreign sharesallowing local investors to invest in international companies without the need to open accounts abroad.
They work as a proxy for the original actionsmaintaining a fixed proportion with respect to the underlying stock. These certificates are listed in Argentine pesos on the Buenos Aires Stock Exchange, offering liquidity and the possibility of operating in the local market, while being exposed to variations in the value of shares of large global companies or other assets.
And the banks… For when?
Despite this significant advance in the offer of financial products linked to cryptocurrencies, still persists a ban imposed by the Central Bank of the Argentine Republic.
This provision, which dates back to the administration of Alberto Fernández, prevents local banks and virtual wallets from offering bitcoin and Cryptocurrency trading services directly to your customers.
However, with the introduction of these new ETFs and the deregulation promises made by President Javier Milei, an expectation is generated about when this prohibition could be relaxed or reviewed, allowing a more complete integration of the cryptocurrency ecosystem into the Argentine financial system. .
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