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BlackRock’s iShares Bitcoin Trust begins trading
- BlackRock introduces first Bitcoin ETF, iShares Bitcoin Trust, now listed on the Santiago Stock Exchange.
- The ETF is managed by BCI Securities Brokerage, which offers institutional access to cryptocurrency investments in Chile.
BlackRock introduced the first Bitcoin ETFs in Chilenamed iShares Bitcoin Trust (IBIT)who started trading on Santiago Stock Exchange on June 27. This financial instrument provides Chilean investors with institutional access to Bitcoin investments.
BlackRock’s iShares Bitcoin Trust (IBIT) is listed on the Santiago Stock Exchange. Source: bci.cl
How it works The ETF is managed by BCI Securities Brokerage, facilitating institutional access to cryptocurrencies. With this launch, Chile joins Brazil in offering similar financial products, reflecting growing interest from local investors in cryptocurrency assets. According to a GTD survey, 74% of Chileans recognize Bitcoin as the most significant cryptocurrency on the market.
As we have covered by Crypto News Flashglobally, Bitcoin ETFs experienced capital outflows, with net withdrawals totaling $1.13 billion between June 13 and 24, impacting funds such as Bitcoin Trust in Grayscale AND Bitcoin Fidelity Wise Origin FundThese movements have raised concerns about the future stability of Bitcoin’s price.
Silvia Fernández, Country Head of BlackRock in Chile, underlined that ETF launch aims to provide an accessible and efficient digital investment alternative, supported by BlackRock’s competence in risk management.
“This launch aligns with BlackRock’s long history of innovation in financial markets. On this occasion, Chilean investors will have an accessible and efficient digital asset to include in their portfolios, supported by the extensive risk management expertise of our iShares ETFs “, Silvia Fernández, Country Head of BlackRock in Chile, told DF.
Patricio Rojas, General Director of the Santiago Stock Exchangespecified that the inclusion of iShares Bitcoin Trust improves the diversification of products available on the Chilean market and promotes dynamic investment activity on the country’s main stock exchange.
“With the arrival of BlackRock’s iShare Bitcoin Trust, we are making progress in diversifying the products available on our market. Today, both as the country’s leading stock market and as part of Nuam Exchange, we are committed to facilitating access to cutting-edge investment tools, as well as fostering a vibrant market for our participants.”
This new one Bitcoin ETF in Chile marks a step forward in integrating cryptocurrencies into the country’s conventional financial system, opening up new avenues for investors and strengthening the digital asset market in the region.
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