BlackRock's Spot Bitcoin ETF Starts Trading in Brazil
Summary
BlackRock's iShares Bitcoin Trust ETF (IBIT), the most successful of the 10 spot bitcoin exchange-traded funds, has begun trading on the Brazilian stock exchange B3. The asset manager announced this expansion as a new opportunity for investors to include Bitcoin exposure in their portfolios. Since its launch in the U.S. on January 11, IBIT has attracted over $7 billion in net investment, the highest inflow among its group. The Brazilian version of the fund, the iShares Bitcoin Trust BDR ETF, has 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.
