Markets
BlackRock’s iShares Bitcoin Trust Begins Trading
- BlackRock introduces the first Bitcoin ETF, iShares Bitcoin Trust, now trading on the Santiago Stock Exchange.
- The ETF is managed by BCI Securities Brokerage, providing institutional access to cryptocurrency investments in Chile.
BlackRock presented the first Bitcoin ETF in Chileappointed iShares Bitcoin Trust (IBIT)which began to be traded on the Santiago Stock Exchange on June 27This financial instrument provides Chilean investors with institutional access to Bitcoin investments.
BlackRock’s iShares Bitcoin Trust (IBIT) fund is listed on the Santiago Stock Exchange. Source: bci.cl
How it works The ETF is managed by BCI Securities Brokeragefacilitating institutional access to cryptocurrencies. With this launch, Chile joins Brazil in offering similar financial products, reflecting local investors’ growing interest in cryptocurrency assets. According to a GTD survey, 74% of Chileans recognize Bitcoin as the most important cryptocurrency on the market.
As we have covered in Crypto News Flashworldwide, Bitcoin ETF experienced capital outflows, with net withdrawals totaling $1.13 billion between June 13 and June 24, impacting funds such as the Bitcoin Trust in Grayscale And Fidelity Wise Origin Bitcoin Fund. These moves have raised concerns about the future stability of Bitcoin’s price.
Silvia Fernandez, BlackRock’s country manager in Chile, stressed that the ETF Launch aims to provide an accessible and efficient digital investment alternative, supported by Black Rock expertise in risk management.
“This launch is part of 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 experience of our iShares ETFs,” Silvia Fernández, BlackRock’s country manager in Chile, told DF.
Patricio Rojas, general director of the Santiago Stock Exchangestated that the inclusion of the iShares Bitcoin Trust Fund 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 in our market. Today, both as the country’s leading exchange and as a member of the Nuam Exchange, we are committed to facilitating access to cutting-edge investment instruments, as well as promoting a vibrant market for our participants.
This new Bitcoin ETF in Chile marks a step towards the integration of cryptocurrencies into the country’s conventional financial system, opening new avenues for investors and strengthening the digital asset market in the region.
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