Argentina allows US crypto ETFs to enter the local market

Argentina's financial regulator allowed crypto-related foreign products from the United States to enter the local market, which opens up the inflow from abroad.

The directors of the board at Argentinasecurities regulator, the National Securities Commission (NSC), announced that the US exchange-traded fundETF), including ETFs related to crypto, now available in the country.

Under the CEDEAR program, which is governed by RG No. 1030, Bitcoin spot ETF and Ethereum spot ETF released and ready to trade. This product was banned under Law No. 27440 for 6 years.

“I am pleased to announce these first permits, which are new investment options provided for in this innovative law,”

said CNV president Roberto E. Silva, on official statement

Although no details are given on which Bitcoin ETF issuer would be allowed to enter the country, the Commission opens the door for the investment of digital assets through the capital market.

In the same document, CNV also stated that gold ETFs are allowed to enter the capital market with the ticker GLD, as well as the S&P 500 index. Chinese stock market indices with the ticker FXI have also been introduced.

The management hopes that these legal innovations could increase passive management indices, commodities, and digital assetswhich are listed abroad and are not publicly offered around the region.

Argentina Public Bitcoin Mining

Argentina, one of the countries in Latin America which allows Bitcoin for transactions, publicly showing Bitcoin mining, which is managed by the Central Bank of Argentina (BCRA).

This Bitcoin mining installation symbolizes the support of the government and embraces the future of digital currency through cryptocurrency. It was the first central bank to reveal Bitcoin mining.

An aggressive move is part of the vision of the President of Argentina Javier Milei to fight against hyperinflation, which reached almost 300% in April 2024, and to lead the digital economy in the country. Since then, according to Trade economicsthe inflation rate has gradually decreased to less than 200% in less than a year.