Colombian Stock Exchange Considers Launching Crypto ETF
Date: 2024-11-20 Author: Gabriel Deangelo Categories: BUSINESS
The Colombian Stock Exchange (BVC) has announced that it is exploring the possibility of launching a crypto ETF through its overseas investment platform.
According to Criptonoticias, the exchange is in talks with the Global Market (MGC) platform, which specializes in foreign public securities.
BVC Head of Investment Capital Nicolas Sanchez said:
“We are working to expand our offerings and improve market efficiency in the face of new players and market makers.”
BVC currently allows investors to trade overseas stocks and traditional ETFs through the MGC platform, while complying with Colombian regulations. Now, the exchange is considering applying the same rules to launch a crypto ETF.
However, Sanchez did not specify whether the new product would focus on a spot Bitcoin ETF, Ethereum, or other altcoins.
Cryptocurrency popularity continues to grow in Colombia. According to Infobae data published in May this year, the country ranks third in Latin America in terms of cryptocurrency adoption, behind only Brazil and Argentina.
The same media company cites banking statistics showing a significant increase in activity on the region’s crypto exchanges between 2016 and 2022. This growth is due to both regulatory changes and changing investor attitudes toward digital assets.
With interest in cryptocurrencies and their regulation growing in the region, the launch of a crypto ETF could be a significant step for the development of Colombia’s financial market.
