In a landmark move for the Brazilian cryptocurrency market, BlackRock, recognized worldwide for being the largest asset manager, announced the introduction of its Brazilian Depositary Receipt (BDR) iShares Bitcoin ETF. This event, scheduled to begin on March 1st, promises to revolutionize the way Brazilian investors interact with Bitcoin, providing them with a regulated route to incorporating this cryptocurrency into their portfolios.

During an event at BlackRock’s headquarters in São Paulo, Karina Saade, who leads BlackRock Brasil, highlighted the importance of this launch, emphasizing the role of Exchange Traded Funds (ETFs) in democratizing access to Bitcoin. The iShares Bitcoin Trust ETF BDR, called IBIT39, not only offers a new investment option, but also signals an era of innovation in ETFs, facilitating the inclusion of Bitcoin as a regulated asset in Brazilians’ investment portfolios.

IBIT39 is an unprecedented opportunity for investors who wish to diversify their portfolios with Bitcoin, replicating the success of its North American equivalent launched in January by BlackRock. With a competitive administrative fee of 0.25% and a fee-free policy for the first US$5 billion under management, the product aligns with the expectations of demanding investors. Initially, access to the ETF will be exclusive to investors with at least 1 million reais in investments, with future plans to expand into retail, subject to regulatory approval.

The addition of IBIT39 to B3, where there are already 13 ETFs focused on cryptocurrencies, expands the options for Brazilian investors, consolidating the country’s position as an innovative market for investments in crypto assets. The past success of BlackRock’s spot ETF in the United States, which saw explosive growth in assets under management, reflects investors’ growing confidence and interest in cryptocurrencies.

This launch not only reinforces BlackRock’s commitment to innovation in the cryptocurrency sector, but also paves the way for future offerings, such as a potential spot Ethereum ETF, subject to regulatory approval. BlackRock’s initiative to introduce regulated cryptocurrency products in Brazil is a milestone for the market, promising new investment opportunities and reinforcing confidence in the cryptoactive sector.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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