Argentine Securities Commission Approves Extending Investments in Futures Contracts Based on ‘Bitcoin Index’
All investors can now invest in futures contracts based on the Matba Rofex Bitcoin Index.
On April 16, 2024, Matba Rofex—a CNV-authorized market where different financial and agricultural reference indexes are calculated and published—issued Circular 950-24, communicating that the Argentine Securities Commission (CNV) enabled all investors to trade in futures contracts based on Matba Rofex's Bitcoin Index.
The CNV had already enabled investments in this type of instrument—although only for qualified investors—through an announcement made on April 11, 2023. Now, and due to end of the initial stage established in Ruling PV-2023-38541234-APN-GED#CNV, the CNV authorized Matba Rofex to extend this type of investment to the general public.
Therefore, as from April 22, 2024, any investor may trade in this type of contracts, eliminating the requirement of being a qualified investor.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.