Colombia opens its doors to BlackRock's bitcoin ETF

The Colombian Stock Exchange began trading the IBIT ETF in the Colombian Global Market section.

The launch was done in conjunction with the firms Acciones & Valores S.A. and Trii.

The IBIT is the largest bitcoin ETF in the world, with over USD 50 billion in assets.

Starting this week, the Colombian Stock Exchange began trading the exchange-traded fund (ETF) of bitcoin (BTC) IBIT, issued by the world's largest asset manager, BlackRock, in a historic event for the stock market in the South American country.

BlackRock's bitcoin ETF is traded in the Colombian Global Market section of the BVC, allowing Colombians to access this investment product.

The launch of BlackRock's ETF in the Colombian market was done in conjunction with the firms Acciones & Valores S.A. and Trii. This opened the possibility for users to invest in the IBIT ETF, which has its own quotation in the U.S. stock market.

In this case, the ETF is traded in Colombian pesos at parity with the cost of the IBIT shares in dollars. In general, the shares of this financial product are traded under the same conditions and technical-financial aspects established by BlackRock.

As can be seen on the BVC page, the shares of the IBIT are traded at an average price of 242,960 Colombian pesos, equivalent to just over 55 dollars, which is the current price of that share in the U.S. stock market.