He iShares Bitcoin Trust (IBIT) by BlackRock started its listing in the Santiago Stock Exchangewhich is part of the regional holding company Nuam Exchange together with the Lima and Colombia stock exchanges June 27thmarking a milestone for the Chilean capital market.
This incorporation, facilitated by Bci Stockbrokers and celebrated with the traditional bell ringing of the Santiago Stock Exchange, gives local investors access to a new underlying asset.
He IBIT seeks to replicate the price behavior of Bitcoinsupported by the institutional risk management of BlackRock used in Its 1,300 iShares ETFs.
BlackRock launches iShares Bitcoin Trust in Chile
“We are proud of this launch, aligned with the tradition of innovation of BlackRock in financial markets. Now, Chilean investors have access to an efficient digital assetbacked by our extensive risk management experience with iShares ETFs,” said Silvia FernandezCountry Head from BlackRock Chile.
Patricio Rojas, General Manager of the Santiago Stock Exchange, added: “With the arrival of BlackRock’s iShares Bitcoin Trust, we significantly diversify the products available in our market, committed to facilitating access to cutting-edge investment instruments and in promoting a broader and more dynamic market.”
Rosario MichaelStudy and Strategy Manager from Bci Stockbrokerstressed: “Our commitment to BlackRock and the Santiago Stock Exchange is Expand access to foreign securitiesproviding our clients with secure and diversified investment opportunities.”
BlackRock’s iShares Bitcoin Trust (IBIT) began trading on the Santiago Stock Exchange on June 27
He added: “We aim to continue to lead the market by offering investments that maximise value for our clients across a range of asset classes.”
From launch in January 2024he IBIT has established itself as the largest Bitcoin ETF in the worldmanaging more than $20 billion in assets and setting the record as the fastest ETF to reach $10 billion in assets.
This addition offers local investors access to a new underlying asset and represents an important milestone in the evolution of financial markets Chileans and their acceptance by traditional investors.
Why Bitcoin ETFs continue to surge
The crypto ecosystem is in constant movement and while expectations grow for the price of Bitcoin (BTC), which is expected to set a new record soon, BTC exchange-traded funds (ETFs) marked a new milestone in their history.
According to data taken in the first week of June, BTC ETFs escalated to a value equivalent to two months of mining reserves of the star cryptocurrency.
Between June 3 and 7, the 11 ETFs They bought some 25,729 bitcoina figure that would be about eight times more than the 3,150 new BTC mined in the same period, according to data provided by HODL15Capital.
The 11 ETFs have received around US$15.69 billion in net gains since their launch last January.
This amount of the asset purchased in the period of one week is almost the same as that recorded in May, where 29,592 Bitcoin. Furthermore, this fact does not go unnoticed because It was the largest week of purchase of the cryptocurrency since that of March where it marked its historical price record.
On the other hand, the 11 ETFs received about US$15,690 million of net profits since its launch last January. In this sense, many BTC supporters refer to the asset as “digital gold” due to its supply and demand based on scarcity, since only a limited number are issued 21 million.
