The Lima Stock Exchange (BVL), a major stock exchange in Peru, has announced the inclusion of spot bitcoin exchange-traded funds (ETFs) on its platform. Peruvian investors will have access to Ishares Bitcoin Trust (IBIT), Vaneck Bitcoin Trust (HODL), and Invesco Galaxy Bitcoin (BTCO) through the exchange.
These ETFs, backed by global assetAsset An economic resource with value that an individual or organization owns, controls, or expects future benefits from. Examples of assets: gold, stocks, cryptocurrencies, etc.-managing companies like Blackrock, Vaneck, and Invesco, represent a significant development in the Peruvian financial landscape. Despite promoting the listing of these investment products, BVL has cautioned investors about the potential price volatility associated with bitcoin.
Julio Cesar Placido, head of BVL, emphasized the transformative impact of these investment instruments on the financial ecosystem, highlighting their role in addressing transparency concerns in the crypto markets. Placido noted that spot bitcoin ETFs aim to attract investors who were previously hesitant to enter the cryptocurrency market.
While bitcoin remains unregulated in Peru, the introduction of cryptocurrency legislation has been proposed. However, the President of the Central Bank of Peru, Julio Velarde, has expressed concerns about the volatility of cryptocurrencies and their impact on climate change. (Source: Bitcoin.com)