Argentina just got its first publicly listed Bitcoin treasury company, and it’s taking a page straight from the MicroStrategy playbook, with a distinctly South American twist.
Zonda Bitcoin Capital plans to change its stock ticker to ZOND on the Buenos Aires stock exchange, known as BYMA. The company intends to ramp up its Bitcoin exposure primarily through regulated US spot Bitcoin ETFs, with BlackRock’s iShares Bitcoin Trust (IBIT) as the chief instrument of choice.
From Hulytego to ZOND: the backstory
Zonda Bitcoin Capital wasn’t always in the Bitcoin business. The company acquired control of Hulytego S.A.I.C. in December 2025, then set about transforming the old corporate shell into something entirely different: a vehicle designed to accumulate Bitcoin exposure and reflect it back to shareholders.
The ticker change to ZOND, pending regulatory approvals, is the outward signal of that internal overhaul. CEO Leonardo Rubinstein has described the strategy as one focused on systematically increasing Bitcoin or Bitcoin ETF holdings per share over time.
