BlackRock’s spot Bitcoin ETF (exchange-traded funds) is expected to make its Brazilian debut tomorrow, according a report The largest financial market news platform in Brazil, InfoMoney. According to the report, the launch comes after BlackRock announced that its iShares Bitcoin Trust (IBIT39), Brazilian Depositary Receipts, would begin trading at B3, Brazil’s Stock Exchange, on Friday.
“Our digital asset journey has been underpinned by the goal of providing high-quality access vehicles to investors,” Karina Sáade, the BlackRock Brazil president, said: “IBIT39 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.”
IBIT39 is initially available only to qualified investors. Retail access will be made available in the near future. “weeks.” The IBIT39 management fee is set at 0.2%, with an annual waiver. After $5 billion of assets are managed the fee will be reduced to 0.12%.
BlackRock’s Bitcoin-based ETF is the most popular choice in the United States. Since January, when Bitcoin spot ETFs have been cleared by regulators, it has accumulated over $9 billion Since launch, assets have grown by over $600 million. According to Bloomberg data, BlackRock’s ETF attracted a record $612 million of inflows in a single day yesterday.
Saade said that, despite the popularity of Bitcoin ETFs and BlackRock’s launch of Bitcoin ETFs across Brazil and in the United States is not an endorsement for Bitcoin but rather an acknowledgement of its importance as an asset. “Our goal is to serve our customers with safe and transparent products. We have no recommendation or any expectations regarding Bitcoin itself,” Saade explained.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: bitcoinmagazine.com
