Investors in Argentina will now be able to invest in cryptocurrencies using an exchange-traded fund (ETF) program called CEDEARs.
Latin American country Argentina has taken a significant step when it comes to digital asset investment, allowing citizens to engage in new investment opportunities via a new range of revolutionary exchange-traded funds (ETFs), CEDEARs. Local investors will now have access to diversified investments with global exposure.
Under the CEDEARs program, five new instruments have made their debut, which will allow investments in gold, Bitcoin BTC $97 628 24h volatility: 5.5% Market cap: $1.93 T Vol. 24h: $169.72 B , and Ether ETH $3 899 24h volatility: 1.0% Market cap: $470.50 B Vol. 24h: $58.04 B , the main two cryptocurrencies, along with exposure to the Chinese market or betting against the Wall Street S&P 500 through using its main companies.
Notably, Argentine investors will be able to gain exposure to leading Bitcoin ETF IBIT and prominent Ethereum ETF ETHA. The products will allow investors to participate in the crypto market without the hassle of managing their digital wallets and private keys, which can be complex for people who don’t have enough technical knowledge about crypto.
Argentine Stock Exchanges and Markets (BYMA), together with Banco Comafi, a mid-sized universal bank in Argentina, debuted CEDEARs with the goal of “raising Argentina to the standards of the most developed international markets.” Roberto E. Silva, president of Argentina’s National Securities Commission (CNV), welcomed the new investment options.
It is important to note that the adoption of cryptocurrencies and stablecoins in Argentina and the entire Latin American region has surged significantly. Argentina is facing a worse case of currency devaluation, with the Argentine peso from massive highs in December 2011 to all-time lows. At the time of writing, 1 USD is worth around 1013.50 Argentine pesos.
With the devaluing currency, the people of Argentina turned to Bitcoin (BTC) and cryptocurrencies, seeing them as a store of value and preserving their net worth. Interestingly, the producer agent at the CNV, Roberto Del Giudice, claimed that these products were increasingly anticipated by the regional markets.
“This movement reinforces the perspective of a more favorable regulatory environment for cryptocurrencies, which increases their legitimacy in traditional markets,” Del Giudice further added.
In the past 24 hours, Bitcoin (BTC) made a new all-time high of $103,900.47, breaking through a monumental psychological hurdle and claiming the $2 trillion market capitalization. Further, the trading volume of the digital asset also rose a whopping 131% to $138.06 billion, indicating increased demand from investors. Additionally, on December 4, spot BTC ETFs recorded $556.82 million in total inflows, contributing to the surge in Bitcoin’s price.
Meanwhile, the United States president-elect, Donald Trump, announced Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), establishing the trio of Atkins and SEC commissioners Mark Uyeda and Hester Peirce. With Bitcoin’s global adoption rising and increasing institutional demand for crypto exposure, investors anticipate approval of additional crypto ETFs, particularly for leading altcoins.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
