Brazil AUM in Spot Bitcoin ETFs at $100 mn
Brazil has seen a significant demand for spot bitcoin ETFs, which have been trading in the country for over two years.
As of November 21, these ETFs had $96.8 million of assets under management (AUM), with Hashdex’s Nasdaq Bitcoin Reference Price FDI having $57.8 million in AUM, or a market share of about 60%.
The largest ETF in Brazil is the iShares Ibovespa Index, which has $2.41 billion in AUM, and the second largest is the iShares BM&FBOVESPA Small Cap, which has $1.19 billion.
The largest U.S. ETF is the SPDR S&P 500, which has around $430 billion in AUM. Marcelo Sampaio, CEO and founder of Hashdex, believes that the success of bitcoin ETFs in Brazil is due to pro-market digital asset regulation and growing interest from large institutions.
Hashdex is among those with outstanding applications for spot bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC), which has delayed any decision on the Hashdex filing. Other spot bitcoin ETF providers in Brazil include Itau ́ Asset Management and QR Capital.
(With inputs from Shikha Singh)
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