The Brazil Securities Commission (CVM) published its Economic Bulletin for the second quarter of 2025, reporting BRL 378.9bn in securities issuance and continued growth in crowdfunding offers via electronic participatory investment platforms. Commercial notes and FIDCs (Credit Rights Investment Funds) rose 24% over the period, from BRL 77bn to BRL 95.5bn. The number of CVM-regulated participants increased 3.3% year on year to 91,359, driven by a 21% rise in securities investment advisers, alongside the authorisation of a new central securities depository and a new organised market administrator. For crowdfunding regulated under CVM Resolution 88, announced issuance value in the last three months reached BRL 2.2bn, exceeding 69% of the aggregated 2024 total (BRL 1.3bn). The bulletin also estimates the regulated market at BRL 42.54tn, or BRL 16.67tn excluding derivatives notional amounts, with investment funds at BRL 10.27tn, up 11.5% from the same period a year earlier.
Brazil Securities Commission (CVM) 2025-07-30
Brazil Securities Commission publishes Q2 2025 Economic Bulletin showing BRL 378.9bn securities issuance and crowdfunding issuances of BRL 2.2bn
The Brazil Securities Commission (CVM) reported BRL 378.9bn in securities issuance for Q2 2025, with significant growth in crowdfunding offers. Commercial notes and Credit Rights Investment Funds rose 24% to BRL 95.5bn, while the number of CVM-regulated participants increased 3.3% year on year. The regulated market is estimated at BRL 42.54tn, with investment funds up 11.5% to BRL 10.27tn.