BlackRock, the world’s largest asset manager, announced the launch of its iShares Bitcoin Trust ETF (IBIT) on the Brazilian stock exchange B3. This geographic expansion of the IBIT follows its successful introduction in the United States in January.
IBIT, the most successful among the 10 spot bitcoin exchange-traded funds, has garnered significant investor interest since its debut. The asset manager revealed that IBIT has attracted over $7 billion in net investment since it began trading in the U.S. on January 11, making it the highest inflow in the group.
Felipe Gonçalves, B3’s superintendent of interest and currency products, emphasized the growing interest in the crypto market among investors worldwide. He stated, “This is another opportunity for investors to include exposure to Bitcoin in their portfolios. The growing interest in the crypto market by investors from all over the world has sparked a search for options in the Brazilian capital market as well.”
The Brazilian version of the fund, known as the iShares Bitcoin Trust BDR ETF, mirrors its U.S.-based counterpart. It carries a 0.25% management fee, which will be reduced to 0.12% for the first year or until the fund reaches $5 billion in assets.
The introduction of IBIT on the Brazilian stock exchange provides Brazilian investors with access to the world’s largest cryptocurrency within their local market. This move aligns with the growing demand for crypto investment options and represents a significant milestone in expanding access to digital assets in Brazil.
