Exciting news for investors in Brazil! BlackRock’s highly anticipated Bitcoin exchange-traded fund (ETF) is set to launch tomorrow in the Brazilian market, as reported by InfoMoney, the country’s leading financial news platform. This debut follows BlackRock’s announcement that its iShares Bitcoin Trust ETF (IBIT39) will start trading via Brazilian Depositary Receipts (BDRs) on B3, Brazil’s stock exchange.
Karina Saade, BlackRock’s Brazil President, expressed excitement, stating, “Our digital asset journey aims to provide top-quality access vehicles to investors. IBIT39 represents the next step in our digital asset market efforts, leveraging our established capabilities.”
Initially available to qualified investors, IBIT39 will soon be accessible to retail investors as well. The ETF carries a management fee of 0.25%, with a one-year waiver and reduction to 0.12% after reaching $5 billion in assets under management.
BlackRock’s Bitcoin ETF in the United States has seen tremendous success, amassing over $9 billion in assets since launch. Bloomberg data reveals that the ETF attracted a record $612 million in inflows in a single day recently.
It is important to note that while BlackRock’s entrance into the Brazilian and U.S. market with Bitcoin ETFs is significant, it does not equate to an endorsement of Bitcoin as an asset. Saade clarified, “Our aim is to offer safe and transparent products to our customers. We do not make recommendations or have expectations regarding Bitcoin itself.”
