Bitcoin funds move US $ 100,000 to Brazil, UK and New Zealand

Launch of the Exchange-Trading Fund (ETF) Bitcoin The New York Stock Exchange attracted interested parties from around the world on Tuesday (19). In Brazil, the United Kingdom and New Zealand, investors have traded US $ 100,000 (approximately R $ 569,000 at current prices) since the arrival of the option.

ETF guarantees secure and 100% regulated exposure to cryptocurrency. Provided by ProShares, the ProShares Bitcoin Strategy ETF invests in futures contracts traded on the Chicago Derivatives Exchange (Chicago Mercantile Exchange Group – CME).

The fund seeks to copy these contracts without dealing with the risks of performance Hacks Or loss of access to cryptocurrencies. Since these are futures contracts, the ETF and Bitcoin values ​​may not be accurate, but the returns will be very similar.

This type of funding facilitates the flow of the buyer. The impact on the price of Bitcoin was almost immediate: it went above US $ 66,000 (R $ 373.6 thousand) on Wednesday (20). “Prices are expected to reach US $ 100,000,” said Safri Felix, director of products and partnerships at Transfero, an expert in financial solutions with blockchain technology in Crypto Valley (Switzerland) and Brazil.

Other ETFs will be issued

According to Matt LeBowitz, CEO and Founder of Stock, the release shows that cryptocurrencies are gaining more ground. “The enthusiasm for Bitcoin-related investments has grown a lot and shows that investors want to diversify their portfolios to always be ahead of new technologies,” he says.

Cryptocurrency ETFs attract companies to invest in these assets because exposure is restricted. “With that, the potential for a lot of money to enter this market increases,” commented Lucas Scotch, CEO and founder of Pitfy, the first portfolio of cryptocurrencies’ own protection in Brazil.

Although Bitcoin is offering a small drop of 5% this Thursday (21) – the most common movement for such a volatile currency – Schoch analysts say the outlook will be further appreciated by the end of this year. “I hope this will lead to a US $ 100,000 quote.” It is also expected that other ETF providers will soon offer their own offer. In Brazil, cryptocurrency index funds are available on B3 from April.