2023-11-29 11:31:02
Spot Bitcoin ETFs Have Almost $100M in AUM in Brazil, Led by Hashdex Offering
As investors continue to await approval of a spot bitcoin exchange-traded fund (ETF) in the U.S., a check of Brazil finds hefty demand for such vehicles which have been trading in that country for more than two years. Together, those ETFs have $96.8 million of assets under management (AUM) as of November 21, led by Hashdex's Nasdaq Bitcoin Reference Price FDI (BITH11) with $57.8 million in AUM as of November 21, or a market share of about 60%.
As comparison, the largest ETF in 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 in AUM. For reference, the largest U.S. ETF, the SPDR S&P 500, has roughly $430 billion in AUM. According to Marcelo Sampaio, CEO and founder of Hashdex, the success of bitcoin ETFs in Brazil. “There is a growing positive sentiment across the most sophisticated investors and we’ve been seeing increasing interest from some of the largest institutions whether that be either allocating or considering adding crypto soon to their portfolios,” said Sampaio in an interview with CoinDesk. Hashdex’s spot bitcoin ETF started trading on August 1, 2021.
Source
https://t.me/Bitcoin_NewsTg
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