BlackRock starts trading spot Bitcoin ETFs in Brazil

Mar 04, 2024
The American investment company BlackRock (BLK) expands trading of its spot Bitcoin ETFs, iShares Bitcoin Trust ETF (IBIT). Trading on the Brazilian stock exchange B3 started on Friday.

The start of trading of spot Bitcoin ETFs became known on Thursday, after a statement by asset manager Filipe Goncalves. In his message, Goncalves also noted that the growing interest in the cryptocurrency market from investors around the world has led to the search for new solutions in the Brazilian capital market.

IBIT has attracted more than $7 billion in net investments since it began trading in the United States on January 11, along with nine other spot Bitcoin ETFs. The Brazilian version of the trust, called the iShares Bitcoin Trust SPDR ETF, has a management fee of 0.25%. It is planned that in the future this value will be reduced to 0.12% during the first year or until the fund’s assets reach $5 billion.