Tuesday, November 28, 2023
HomeCryptocurrencySpot Bitcoin (BTC) ETFs in Brazil Discover Hefty Demand

Spot Bitcoin (BTC) ETFs in Brazil Discover Hefty Demand



As traders await approval of a spot bitcoin exchange-traded fund (ETF) within the U.S., a verify in Brazil finds hefty demand for such automobiles, which have been buying and selling there for greater than two years. Collectively, these ETFs have $96.8 million of belongings below administration (AUM) as of Nov. 21, led by Hashdex’s Nasdaq Bitcoin Reference Value FDI (BITH11) with $57.8 million in AUM, or a market share of about 60%. For comparability, the most important ETF within the nation, iShares Ibovespa Index (BOVA11), has $2.41 billion in AUM and the second largest, the iShares BM&FBOVESPA Small Cap (SMAL11), has $1.19 billion. The biggest U.S. ETF, the SPDR S&P 500, has roughly $430 billion in AUM. Based on Marcelo Sampaio, CEO and founding father of Hashdex, the success of bitcoin ETFs in Brazil is the results of pro-market digital belongings regulation and rising curiosity from massive establishments.

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