The Brazilian crypto market has witnessed a remarkable growth in the past year, as more investors and institutions are embracing the potential of digital assets. One of the most notable developments in this space is the launch of two Bitcoin exchange-traded funds (ETFs) by local asset managers Hashdex and QR Capital.
These ETFs, which track the performance of Bitcoin and are traded on the Brazilian stock exchange (B3), offer a convenient and regulated way for investors to gain exposure to the leading cryptocurrency without having to deal with the technical and security challenges of holding it directly.
According to data from B3, the two Bitcoin ETFs have attracted significant inflows since their inception, reaching a combined total of nearly $100 million in assets under management (AUM) as of November 26, 2023. The Hashdex Nasdaq Crypto Index ETF (HASH11), which was launched in April 2023, has amassed $67.8 million in AUM, while the QR Asset Management Bitcoin ETF (QBTC11), which debuted in June 2021, has accumulated $31.9 million in AUM.
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Spot Bitcoin ETFs Have Almost $100M in AUM in Brazil, Led by Hashdex Offering Pro-market digital assets regulation and growing interest from large institutions are among the factors behind the success so far, said Hashdex’s CEO.
The growing demand for these products reflects the increasing popularity and acceptance of Bitcoin as a legitimate asset class in Brazil and beyond. The country’s securities regulator, the Comissão de Valores Mobiliários (CVM), has approved both ETFs, making Brazil one of the few jurisdictions in the world to allow such products. Moreover, the Brazilian central bank has recently recognized Bitcoin and other cryptocurrencies as financial assets, paving the way for further integration and innovation in the crypto sector.
The success of the Brazilian Bitcoin ETFs also puts pressure on other regulators, especially in the US, to approve similar products that could bring more liquidity and transparency to the crypto market. While several proposals for Bitcoin ETFs have been submitted to the US Securities and Exchange Commission (SEC), none have been approved so far, mainly due to concerns over market manipulation and investor protection. However, some analysts believe that the SEC could change its stance in the near future, as more evidence emerges that Bitcoin ETFs can operate safely and efficiently in other markets.
The Brazilian Bitcoin ETFs are a testament to the growing maturity and adoption of the crypto industry in Latin America’s largest economy. They provide an easy and accessible way for investors to participate in the upside potential of Bitcoin, while also contributing to the development and regulation of the crypto ecosystem. As more countries follow suit, we could see a new wave of innovation and growth in the global crypto market.
Blast TVL surpasses $500M as Cool Cats featured on the Macy’s Parade
Blast, the decentralized finance platform that allows users to earn interest on their crypto assets, has reached a new milestone. The total value locked (TVL) on Blast has surpassed $500 millions, making it one of the fastest-growing DeFi projects in the industry.
Blast is a non-custodial platform that leverages smart contracts to enable users to deposit their crypto assets and earn passive income. Users can choose from a variety of pools, each offering different interest rates and risk profiles. Blast supports popular tokens such as ETH, USDT, DAI, WBTC, and more.
Blast’s growth is driven by its innovative features and competitive advantages. One of the key features of Blast is its auto-compounding mechanism, which automatically reinvests the interest earned by users into the same pool, maximizing their returns. Another feature is its low fees, which are only charged when users withdraw their funds. Blast also offers high security and transparency, as all its smart contracts are audited and verified by reputable firms.
Blast’s vision is to become the leading DeFi platform for crypto investors who want to earn passive income without sacrificing control over their assets. By surpassing $500 millions in TVL, Blast has proven its ability to attract and retain users with its attractive and user-friendly platform. Blast aims to continue innovating and expanding its offerings, as well as collaborating with other DeFi projects to create synergies and value for the crypto community.
Cool Cats featured on the Macy’s Thanksgiving parade.
Cool Cats, the popular NFT collection of 10,000 unique and randomly generated cat avatars, you might have been pleasantly surprised to see them on the Macy’s Thanksgiving parade this year. The parade, which is an annual tradition that attracts millions of viewers across the country, featured a giant balloon of a Cool Cat wearing a turkey hat and holding a sign that said, “Happy Thanksgiving from Cool Cats”.
The balloon was sponsored by the Cool Cats community, which raised over $200,000 in donations to make it happen. The community also donated $50,000 to the ASPCA, an animal welfare organization, as a way of giving back and supporting a cause that aligns with their values. The balloon was designed by Klaudia Jankowska, a digital artist and a Cool Cat owner herself.
The Cool Cats NFT project was launched in July 2021 and quickly became one of the most popular and successful collections on the Ethereum blockchain. The project has a strong focus on community building and engagement, offering various benefits and rewards to its holders, such as access to exclusive events, merchandise, games, and collaborations. The project also supports various charitable causes and initiatives, such as planting trees, providing clean water, and fighting climate change.
The Macy’s Thanksgiving parade was a milestone for the Cool Cats community and the NFT space in general, as it showcased the potential of NFTs to reach mainstream audiences and create positive social impact. The parade also celebrated the diversity and creativity of the NFT community, as the Cool Cats balloon was joined by other NFT-related balloons, such as CryptoPunks, Bored Apes, and Meebits. The parade was a testament to the power of NFTs to bring people together and foster a sense of belonging and identity.