BlackRock Ventures into Brazilian Cryptocurrency ETF Market

Trading for eligible investors is set to begin this Friday, marking the debut of global investment management company BlackRock in the Brazilian cryptocurrency ETF market. With this expansion, ordinary investors in Brazil will have greater access to the ETF, which was successfully introduced earlier this year in the United States.

With a 0.25% management fee that is first lowered to 0.12% for the first $5 billion in assets under management, the Bitcoin ETF, also referred to by the code IBIT39, aims to replicate the performance of Bitcoin. The tax exemptions that apply to local share transactions below $20,000 do not apply to Brazilian Depositary Receipts (BDR) linked with the ETF, in contrast to direct shares.

BlackRock’s Commitment to Investor Access

Karina Saade, BlackRock’s Brazilian Country Manager, underscores the firm’s commitment to providing investors with high-quality access to digital assets. Saade views IBIT39 as a natural progression in BlackRock’s digital asset journey, leveraging the company’s established capabilities in the digital asset market to offer investors enhanced opportunities.

In line with the company’s long-term goals for digital assets, Saade highlights the ETF’s strategic importance as a part of BlackRock’s digital asset strategy. An important step forward in BlackRock’s attempts to increase its footprint in the changing digital asset market is the introduction of IBIT39.

The supervisor of interest and currency products at B3, Felipe Gonçalves, sees the Bitcoin ETF as a great way for investors to add exposure to Bitcoin while diversifying their portfolios. Gonçalves draws attention to the increasing interest in cryptocurrency investments around the globe, pointing to a larger trend in which digital assets are being included into investment plans.