Argentina opens market to crypto ETFs

The initiative aims to modernise Argentina’s financial system and embrace digital assets, fostering economic growth.

Crypto, regulation, in Argentina,

Argentina’s financial regulator has approved the entry of US crypto-related exchange-traded funds (ETFs) into its market, opening new investment opportunities for local traders. Under the CEDEAR programme, regulated by RG No. 1030, Bitcoin and Ethereum spot ETFs are now available for trading after a six-year prohibition under Law No. 27440. This move marks a significant step towards integrating digital assets into Argentina’s capital markets.

The Comisión Nacional de Valores (CNV) has also authorised ETFs tied to gold and the S&P 500 index, alongside Chinese stock market indexes. These offerings are part of broader efforts to diversify investment options and promote access to passive management indices, commodities, and digital assets. CNV President Roberto E. Silva highlighted the innovative nature of these approvals, aiming to attract more investors to the local market.

This development aligns with President Javier Milei’s strategy to counter hyperinflation and stimulate Argentina’s digital economy. With inflation dropping from nearly 300% in April 2024 to below 200%, the introduction of crypto ETFs signals a continued push towards modernising the financial system while embracing digital currency innovation.