Bitcoin ETFs are now tradeable in Brazil and Dubai! So far, Crypto ETFs were only tradeable in Canada. Now two new countries followed Canada’s lead: Brazil and Dubai.
South America is getting serious about bitcoin! El Salvador was the first country that recognized bitcoin as a legal tender. Shortly afterward, rumors about similar actions by other governments emerged. And now a bitcoin ETF is tradeable in Brazil!
Brazil’s and Dubai’s impact on the financial market may be smaller than the US’s. Still, Dubai is an Emirate in the UAE. And the UAE is one of the richest countries in the world. Brazil has a thriving economy and is the fourth richest country in South America.
So, the impact of Brazil and Dubai should not be underestimated!
Bitcoin ETF – Why would this be so bullish?
If things continue like this, it could be that bitcoin ETFs will be tradable in most countries.
So, could this become be a global trend?
Time will tell!