Continuing Expansion, BlackRock Launches First Bitcoin ETF in Brazil

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Brazilian investors now have new access to invest in the crypto market through an Exchange-Traded Fund (ETF) product launched by BlackRock Inc, the world's largest asset manager, in collaboration with B3, the main stock exchange in Brazil. This ETF provides exposure to Bitcoin, the world's leading and largest crypto asset, without having to buy and store it directly.

IBIT39, Brazil's First Bitcoin ETF

The first Bitcoin ETF in Brazil is named IBIT39, which is a Brazilian Depositary Receipt (BDR) from the iShares Bitcoin Trust ETF, a similar product that BlackRock launched in the United States in January. This ETF follows Bitcoin's price performance and has a management fee of 0.25%, which will be lowered to 0.12% over the first year or until the assets under management (AUM) reach $5 billion.

IBIT39 began trading on B3 on Monday, March 1, and is available to qualified investors, i.e. those who have invested a minimum of 1 million reais ($201,000) in the market. BlackRock also plans to open access for retail investors after obtaining approval from Brazilian regulators.

As a BDR, IBIT39 is taxed in the same way as stocks, so investors must pay taxes on capital gains earned from the sale of the ETF. However, these ETFs offer convenience and security for investors who want to have exposure to Bitcoin without having to take care of the operational aspects, transaction fees, and tax reporting associated with storing Bitcoin directly.

BlackRock Expands Crypto Market in Brazil

The launch of IBIT39 marks BlackRock's debut in the Brazilian crypto ETF market, which is one of the countries with the highest crypto interest and adoption in the world. According to data from Statista, Brazil ranks third in the world in terms of crypto usage, with 22% of respondents claiming to have used or own cryptocurrencies.

Karina Saade, President of BlackRock in Brazil, said that IBIT39 is the result of the digital asset journey that the company has been doing over the years, with the aim of providing investors with high-quality access vehicles.

"This is another opportunity for investors to include exposure to Bitcoin in their portfolios," Saade said.

Felipe Gonçalves, Superintendent of Interest Rates and Foreign Exchange Products at B3, also welcomed the launch of IBIT39, which he said reflects growing investment preferences in Brazil.

"The listed crypto market started in 2021 and we currently have 13 ETFs with crypto exposure. This is a new market, but it has assets of 2.5 billion reais. It started with strong volumes, fluctuated slightly in two years, and by the end of last year reached 30 million reais per day," Gonçalves said.

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BlackRock Succeeds with Bitcoin ETF in US

BlackRock is not new to the crypto market, as it has previously launched the iShares Bitcoin Trust ETF (IBIT) in the United States, which is one of ten spot Bitcoin ETFs approved by the United States Securities and Exchange Commission (SEC).

IBIT has attracted more than $8 billion in AUM since its launch in January 2024, demonstrating its popularity among investors seeking exposure to Bitcoin. IBIT is also the first crypto ETF to reach $1 billion in trading volume in a day in February 2024.

BlackRock juga sedang menjelajahi peluang lain di pasar kripto, baik di Brasil maupun di AS. Menurut laporan dari CoinDesk, BlackRock berencana untuk meluncurkan ETF Ethereum (ETH) spot di AS, tergantung pada persetujuan dari SEC. ETH adalah mata uang kripto terbesar kedua di dunia setelah Bitcoin, dengan kapitalisasi pasar lebih dari $200 miliar.

Kesimpulan

BlackRock dan B3 telah meluncurkan ETF Bitcoin pertama di Brasil, yang memberikan akses baru bagi investor Brasil untuk berinvestasi di pasar kripto. ETF ini merupakan BDR dari iShares Bitcoin Trust ETF, yang telah sukses di AS. 

ETF ini memiliki biaya pengelolaan rendah, kemudahan operasional, dan keamanan bagi investor yang ingin memiliki paparan terhadap Bitcoin tanpa harus membeli dan menyimpannya secara langsung. ETF ini juga menunjukkan perkembangan dan integrasi kripto ke dalam portofolio investasi utama.

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Cara Beli Bitcoin (BTC) di Bittime

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Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.

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Also Read:

BlackRock Bitcoin ETF: Definition, Pros, and Disadvantages

How Many Bitcoins Does BlackRock Own?

VanEck: ETF Pioneer & His Work for Bitcoin ETFs

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.