Top investment asset management firm BlackRock is moving very fast in its spot Bitcoin ETF journey as the firm is currently eyeing Brazil as the next country to launch its flagship BTC fund \u2013 IBIT.\u00a0<\/span><\/p>\n Less than two months after receiving approval from the United States Securities and Exchange Commission (SEC) and launching its spot Bitcoin ETF, BlackRock is expanding the offering to Brazil. BlackRock plans to achieve this feat in collaboration with B3, the country\u2019s stock exchange operator. Markedly, this would be the asset manager\u2019s first crypto ETF in the South American nation.<\/span><\/p>\n <\/p>\n The expansion is a clear indication that BlackRock\u2019s foray into the spot Bitcoin ETF niche has yielded tangible results, marked by IBIT\u2019s Asset Under Management (AUM) <\/span>inching close to the $10 billion benchmark<\/span><\/a>. Karina Saade, president of BlackRock in Brazil confirmed the move.\u00a0<\/span><\/p>\n \u201cOur digital asset journey has been underpinned by the goal of providing high-quality access vehicles to investors.\u00a0IBIT39 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, she said<\/span><\/p>\n <\/p>\n On February 27, the spot Bitcoin ETF market saw a strong inflow of $577 million, and of this figure, the BlackRock iShares Bitcoin ETF alone <\/span>witnessed an inflow of $520 million<\/span><\/a>. Similarly, IBIT set a new <\/span>personal record<\/span><\/a> with $1.3 billion in trading volume, exceeding the daily trade volume of most large-cap U.S. stocks.<\/span><\/p>\n <\/p>\n For Brazil, the spot Bitcoin ETF trading is scheduled to begin on Friday but will only be available to eligible investors, that is, those with more than R$1 million invested. According to a note from the company, after a few weeks, the offering will be available to retail investors. The Bitcoin ETF will be traded under the ticker IBT39 and will be listed on the Brazilian Stock Exchange \u2013 B3.<\/span><\/p>\n <\/p>\n Like the BlackRock spot Bitcoin ETF in the U.S., the Brazil ETF will track the performance of Bitcoin. It would also have <\/span>a management fee of 0.25%<\/span><\/a> with a one-year waiver reducing the fee to 0.12% on the first $5 billion assets under management (AUM). Since the asset will be issued in Brazil and backed by shares abroad, BlackRock\u2019s product is defined as Brazilian Depositary Receipts (BDR).<\/span><\/p>\n These BDRs are certificates that represent shares issued by companies in other countries, but which are traded in Brazil.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\nBlackRock Spot Bitcoin ETF to Expand to Brazil<\/strong><\/h2>\n
BlackRock Registers Huge Inflow<\/strong><\/h2>\n
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