- Omercon criticizes the ETF as risky, urging focus on development over speculative products amid local crypto adoption growth.
- 40K-60K Costa Rican digital wallets signal Bitcoin interest; BN’s ETF simplifies access amid regulatory debates and business acceptance.
Costa Rica’s National Bank (BN) has drawn 254 investors to its Bitcoin ETF, launched in 2024, with approximately $631,000 invested and an annual return of 12.46% as of May 2025.
The “BN ETF Bitcoin” allows participants to gain exposure to Bitcoin’s price movements without directly purchasing the cryptocurrency. Alongside its sister fund, the “BN ETF 500” which tracks the performance of major U.S. stocks, the bank now manages over $1.62 million across both products.
The BN ETF Bitcoin replicates Bitcoin’s price through regulated financial instruments, enabling investors to avoid managing private keys or using crypto exchanges. This approach simplifies access for those wary of direct cryptocurrency ownership. Investors can purchase shares through the National Bank, with the fund’s value tied to Bitcoin’s market performance.
Pablo Montes de Oca, general manager of BN Funds, stated the ETFs reflect the bank’s goal to offer “modern, diversified solutions” aligned with client needs. The Bitcoin ETF has gained traction among Costa Ricans seeking crypto exposure without technical hurdles, while the ETF 500 appeals to traditional equity investors.
Crypto Adoption in Costa Rica
Between 40,000 and 60,000 digital wallets exist in Costa Rica, indicating rising interest in cryptocurrencies like Bitcoin. Some businesses now accept Bitcoin for payments, though adoption remains limited compared to fiat currencies. The National Bank’s ETF is currently the only regulated product of its kind in the country, though local exchanges enable direct purchases.
The Observatory of Markets and Consumer Rights (Omercon) criticized the Bitcoin ETF’s launch, calling it a “questionable investment scheme” that exposes local investors to undue risk. Omercon argues the National Bank should prioritize development-focused banking over speculative products.
Despite this, demand for the ETF highlights a shift in Costa Rica’s financial preferences. The fund’s 12.46% return since inception contrasts with Omercon’s warnings, underscoring a divide between institutional offerings and regulatory caution.
Bitcoin (BTC) – Time Price & Technical Market Analysis – May 24, 2025
Bitcoin is currently trading at $109,556, up +0.45% in the past 24 hours, as it continues to consolidate just below its all-time high of $112,000 set earlier this week. The weekly gain stands at +2.85%, while the monthly increase is +15.66%, showing consistent strength amid global economic uncertainty. Year-over-year, BTC has surged +58.12%, reaffirming its dominance and appeal as a digital macro asset.
From a technical viewpoint, BTC remains in a healthy uptrend. It recently completed a double-bottom breakout, and is now navigating key resistance near $111,000–$112,000.
ETHNews analysts expect a breakout to target $115,000–$122,000 if the $110K level is firmly held. Support lies near $106,000, with the re-accumulation zone offering a cushion against deeper corrections.
Fundamental Drivers:
- Over $2.9 billion in inflows into Bitcoin last week alone, representing 25% of all crypto inflows in 2024, as investors react to macro uncertainty.
- Bitcoin ETFs added 7,869 BTC in a single day, strengthening the narrative of institutional accumulation.
- The US Senate passed the Crypto Regulation Bill, unlocking broader access for funds previously restricted from holding crypto assets.
- New all-time high profits were realized by whale wallets, but broader accumulation continues, with analysts predicting the current bull cycle may extend through 2026.
Community sentiment is broadly bullish, with predictions of $125K by July and $150K+ by year-end. Daily and weekly chart patterns suggest price may temporarily stall near current levels before resuming the next leg higher.
