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Key Takeaways
- BlackRock has launched a new Bitcoin BDR ETF in Brazil, allowing investors to engage with Bitcoin through a regulated security.
- The Brazilian ETF mirrors the performance of BlackRock’s US Bitcoin ETF.
- The success of BlackRock’s US ETF, along with plans for a potential Ether ETF in Brazil, underscores the growing global interest in cryptocurrency investments.
BlackRock has announced the launch of a Bitcoin Brazilian Depositary Receipts (BDR) Exchange-Traded Fund (ETF) in Brazil.
The IBIT39 is set to begin trading on March 1, offering Brazilians a unique opportunity to invest in Bitcoin through a familiar and regulated security.
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Brazilian Depositary Receipts (BDRs) are certificates that enable local investors to gain exposure to foreign securities, in this case, BlackRock’s US-issued Bitcoin ETF.
The initiative, a collaborative effort between BlackRock and Brazil’s B3 financial market infrastructure provider, aims to replicate the success of BlackRock’s spot Bitcoin ETF launched in the US in January.
The US launch quickly amassed $2 billion in assets under management (AUM) and recorded one of the largest debut months for an ETF, setting a promising precedent for its Brazilian counterpart.
Karina Saade, BlackRock Brazil’s president, stated:
The launch <…> advances the innovation of ETFs and allows access to Bitcoin for investors through a security — the ETF BDR — that can be incorporated in a consistent, convenient and cost-effective manner <…> into their portfolios.
This launch adds to Brazil’s growing list of crypto-related ETFs, which currently boasts 13 ETFs and has seen significant trading activity this year.
With eyes on the future, BlackRock also hints at the potential launch of a spot Ether ETF, pending US SEC approval.
This launch not only broadens the accessibility of BTC investments to Brazilian investors but also reinforces the global trend toward embracing digital currencies.
BlackRock has recently released a well-received ad campaign for its spot Bitcoin ETFs, inviting investors to “Get your share of progress.”
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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