Argentina Launches CEDEARs to Facilitate Crypto Investments for Citizens
Argentina has made a significant move in digital asset investment by introducing exchange-traded funds (ETFs) known as CEDEARs. This allows local investors to access diversified investments with global exposure.
New Investment Instruments
Under the CEDEARs program, five new instruments are available, enabling investments in gold, Bitcoin, and Ether, alongside exposure to the Chinese market or shorting the Wall Street S&P 500.
Access to Leading ETFs
Argentine investors can now access prominent Bitcoin ETF IBIT and Ethereum ETF ETHA. These products facilitate participation in the crypto market without the complexities of managing digital wallets and private keys.
Market Goals and Background
The Argentine Stock Exchanges and Markets (BYMA), along with Banco Comafi, launched CEDEARs aiming to align Argentina with developed international markets. Roberto E. Silva, president of Argentina's National Securities Commission (CNV), endorsed these new investment options.
Cryptocurrency adoption has surged in Argentina due to severe currency devaluation, with the Argentine peso currently around 1013.50 per USD. As a result, many citizens view Bitcoin and cryptocurrencies as a means to preserve wealth. Roberto Del Giudice from CNV noted growing anticipation for these products in regional markets.
“This movement reinforces the perspective of a more favorable regulatory environment for cryptocurrencies, which increases their legitimacy in traditional markets,” Del Giudice stated.
Bitcoin Market Performance
Recently, Bitcoin reached a new all-time high of $103,900.47, pushing its market capitalization above $2 trillion. Trading volume surged by 131% to $138.06 billion, indicating heightened investor demand. On December 4, spot BTC ETFs saw total inflows of $556.82 million, contributing to this price increase.
In related news, U.S. president-elect Donald Trump appointed Paul Atkins as chair of the Securities and Exchange Commission (SEC). With rising global Bitcoin adoption and institutional demand for crypto exposure, there is speculation about the approval of additional crypto ETFs, particularly for leading altcoins.