BlackRock Partners with Brazil’s B3 Stock Exchange to Launch Bitcoin ETF
BlackRock has announced its collaboration with Brazil’s B3 stock exchange to introduce the iShares Bitcoin Trust ETF’s Brazilian Depositary Receipts (BDR) to the market. This move marks BlackRock’s entry into the Brazilian cryptocurrency ETF market and will allow qualified investors to trade the ETF starting Friday. The Bitcoin ETF, known as IBIT39, aims to replicate the performance of BTC and comes with a management fee of 0.25%, which will be temporarily reduced to 0.12% for the first $5 billion in assets under management. However, it is important to note that BDRs do not enjoy the same tax exemptions as local share sales under $20,000.
BlackRock’s Commitment to Providing Accessible Investment Opportunities
Karina Saade, BlackRock’s Brazilian Country Manager, expressed the company’s dedication to offering high-quality investment vehicles for investors. She stated that the launch of IBIT39 is a natural progression of their efforts in the digital asset market and aligns with BlackRock’s long-term vision for digital assets. This partnership with B3 allows BlackRock to expand its reach and provide retail investors in Brazil with access to the Bitcoin ETF.
Diversifying Portfolios with Bitcoin Exposure
Felipe Gonçalves, B3’s superintendent of Interest and Currency Products, highlighted the Bitcoin ETF as an opportunity for investors to diversify their portfolios by adding exposure to Bitcoin. This move reflects the growing global interest in cryptocurrency investments and provides Brazilian investors with a regulated and accessible avenue for participating in this asset class.
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