The Crypto Roundup: 28 November 2023 | CryptoCompare.com

A spot Bitcoin exchange-traded fund (ETF) has been long awaited by investors in the U.S., however, these products have been available in Brazil for over two years. As of November 21, the collective assets under management (AUM) of spot Bitcoin ETFs in Brazil stands at $96.8 million.

The Hashdex Nasdaq Bitcoin Reference Price FDI (BITH11) leads Brazil’s spot Bitcoin ETFs in terms of assets under management, accounting for $57.8 million of those assets, or roughly 60% of the market share.

In contrast, Brazil’s largest ETF, iShares Ibovespa Index (BOVA11), holds $2.41 billion in AUM, followed by the iShares BM&FBOVESPA Small Cap (SMAL11) with $1.19 billion. The largest ETF in the U.S., the SPDR S&P 500, has roughly $430 billion in assets under management.

Hashdex also manages a crypto index ETF that includes Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies, which has attracted more investment than its spot Bitcoin ETF. Combined, Hashdex’s crypto-related ETFs have an AUM of about $500 million.

Other notable spot bitcoin ETFs in Brazil include a collaboration between Itaú Asset Management and Galaxy Digital, launched by Mike Novogratz last year, and a product from QR Capital launched in 2021 with $36 million AUM.

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/nov/28/