[ad_1]
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, InfoMoney. The 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.
“Our digital asset journey has been underpinned by the goal of providing high-quality access vehicles to investors,” said Karina Saade, president of BlackRock in Brazil. “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 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.
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 in assets since launch. According to Bloomberg data, BlackRock’s ETF attracted a record $612 million of inflows in a single day yesterday.
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. “Our goal is to serve our customers with safe and transparent products. We have no recommendation or any expectations regarding Bitcoin itself,” Saade explained.
[ad_2]
Source link
Comments are closed.