Costa Rica launches first Bitcoin ETF through Banco Nacional

Costa Rica’s largest commercial bank, Banco Nacional (BN), is launching the country’s first spot Bitcoin ETF through its investment arm, BN Fondos. This marks the first crypto investment product available through Costa Rica’s banking system. The Bitcoin ETF, alongside an S&P 500 ETF, will have a $100 minimum investment and will be funded in U.S. dollars. Despite lacking formal crypto regulations, Costa Rican law allows such offerings, as activities not explicitly prohibited are permitted. According to CoinDesk, a proposed crypto regulation bill introduced in 2022 remains stalled in the legislative process.