According to InfoMoney, a Brazilian financial market platform, BlackRock’s iShares Bitcoin Trust ETF (IBIT39) will be listed on Brazil’s stock exchange, B3, on March 1, 2024. This is BlackRock’s first foray into the Brazilian Bitcoin market, where eligible investors can access Bitcoin via exchange-traded receipts (BDRs).
Just as in the United States, IBIT39 is being launched, with a 0.25% management charge that will be reduced for the first year only. Fees will reduce further, beginning at 0.24% and eventually settling at 0.12% for holdings worth more than $5 billion.
Karina Saade, the CEO of BlackRock in Brazil, stated:
“Our digital asset journey has been underpinned by the goal of providing high-quality access vehicles to investors.”
Despite recognizing the cryptocurrencycurrency’s growing significance as a class of asset, BlackRock wishes to emphasize that the creation of this ETF is not an endorsement of the cryptocurrencycurrency in and of itself. They emphasize that the products made follow a tight safety-transparency and fair target-orientation regime.
Read also: Bitcoin Takes the Lead in BlackRock’s Crypto Strategy, Leaving Others Assets Behind
