BlackRock, the global asset manager, has extended its iShares Bitcoin Trust ETF (IBIT) to Brazilian investors following its successful debut in the United States earlier this year.
The company’s decision to expand its geographic reach reflects the growing interest in cryptocurrency markets worldwide.
IBIT, known as the most successful among the 10 spot bitcoin exchange-traded funds, commenced trading on the Brazilian stock exchange B3.
Felipe Gonçalves, B3’s superintendent of interest and currency products, emphasized the opportunity for investors to diversify their portfolios with exposure to Bitcoin.
Since its launch in the U.S. on January 11, IBIT has attracted over $7 billion in net investment, marking the highest inflow among similar funds.
The Brazilian version of IBIT, named the iShares Bitcoin Trust BDR ETF, features a 0.25% management fee, which will be reduced to 0.12% for the first year or until the fund reaches $5 billion in assets.
