Brazil’s top bank reveals Brazilians bought billions of dollars in cryptocurrency this year, according to the Bitcoin portal.
The Central Bank of Brazil says Brazilians have bought $ 4.27 billion worth of crypto assets so far this year.
The biggest monthly crypto buy in 2021 was in May, when Brazilians bought $ 756 million worth of cryptocurrency, according to the reserve bank. June saw the second-largest crypto asset purchase so far this year, at $ 695 million. Julio came in third, with the Brazilians buying $ 583 million worth of crypto.
Central Bank of Brazil’s Monetary Policy Director Bruno Serra says Brazilians’ investments in cryptocurrencies may be worth about three times their investments in U.S. stocks.
In August, the bank’s president, Roberto Campos Neto, revealed that Brazilians collectively owned cryptos worth around $ 40 billion.
The disclosure comes months after Brazil approved Bitcoin and Ethereum exchange-traded funds (ETFs).
In March, the Brazilian securities regulator, the Brazilian Securities Commission (CVM), approved a Bitcoin ETF issued by digital asset manager QR Capital. Bitcoin ETF with the code QBTC11 is listed on the Brazilian stock exchange, Brasil Bolsa Balcao (B3). At the time, it was the fourth Bitcoin ETF in the world and the first in South America.
The Brazilian securities regulator also approved an Ethereum ETF issued by QR Capital in July. The Ethereum ETF was the first to be approved in South America and is listed on B3 under the symbol QETH11. It tracks the Chicago Mercantile Exchange Ethereum Index, the CME CF Ether benchmark rate.