BlackRock’s spot Bitcoin exchange-traded fund (ETF) is poised to make its debut in Brazil tomorrow, according to a report<\/a> from the largest financial market news platform in Brazil,\u00a0InfoMoney.\u00a0The launch follows the announcement by BlackRock that the Brazilian Depositary Receipts (BDRs) of its iShares Bitcoin Trust ETF (IBIT39) will begin trading on B3, Brazil’s stock exchange, on Friday, according to the report.<\/p>\n

\u201cOur digital asset journey has been underpinned by the goal of providing high-quality access vehicles to investors,\u201d\u00a0said Karina Saade, president of BlackRock in Brazil.\u00a0\u201cIBIT39 is a natural progression of our efforts over many years and builds on the fundamental capabilities we have established so far in the digital asset market.\u201d<\/p>\n

IBIT39 will initially be available to qualified investors, with retail access expected to follow in the coming “weeks.” The management fee for IBIT39 is set at 0.25%, with a one-year waiver and a reduction to 0.12% after reaching $5 billion in assets under management.<\/p>\n

In the United States, where Bitcoin spot ETFs were cleared by regulators in January, BlackRock’s Bitcoin ETF has emerged as the most popular option, accumulating over $9 billion<\/a> in assets since launch. According to Bloomberg data, BlackRock’s ETF attracted a record $612 million of inflows\u00a0in a single day yesterday.<\/p>\n

Despite the success of Bitcoin ETFs, Saade emphasized that BlackRock’s launch in Brazil and the United States does not constitute an endorsement of Bitcoin itself but rather a recognition of its relevance as an asset class. \u201cOur goal is to serve our customers with safe and transparent products. We have no recommendation or any expectations regarding Bitcoin itself,\u201d\u00a0Saade explained.<\/p>","protected":false},"excerpt":{"rendered":"

BlackRock’s spot Bitcoin exchange-traded fund (ETF) is poised to make its debut in Brazil tomorrow, according to a report from the largest financial market news platform in Brazil,\u00a0InfoMoney.\u00a0The launch follows the announcement by BlackRock that the Brazilian Depositary Receipts (BDRs) of its iShares Bitcoin Trust ETF (IBIT39) will begin trading on B3, Brazil’s stock exchange, […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19737","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/19737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=19737"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/19737\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=19737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=19737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=19737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}