Bitcoin gains institutional consensus as Brazil crypto licensing progresses

A new report from Bitwise indicates that Bitcoin has achieved a consensus among major institutional investors, distinguishing it from other digital assets like Ethereum and Solana. The study, which surveyed 15 large institutional investors, found that Bitcoin is the primary and most heavily weighted asset for those with crypto exposure. While some institutions view Ethereum and Solana with shorter time horizons and specific exit criteria, Bitcoin is largely held for the long term. Institutional allocations vary, with sovereign wealth funds holding between 1.0% and 1.5%, public pension funds between 1.5% and 4.5%, and public companies allocating 1% to 10% of excess cash.

In Brazil, the regulatory landscape for cryptocurrency is evolving as companies seek authorization from the Central Bank. Five companies have been identified as being in the process of obtaining licenses to operate under new market rules: Wynx Exchange, Onda Finance, W Brasil Comércio, Masterpay, and PFPay. Onda Finance has already been formally mentioned in a Central Bank communication regarding its authorization process. The status of these applications varies, with some listed as ‘Under Examination’ and others ‘Awaiting Receipt,’ though the specific meaning of these stages remains unclear.