According to CoinDesk, BlackRock has extended the trading of its iShares Bitcoin Trust ETF (IBIT) to Brazil. The fund began trading on the Brazilian stock exchange B3 on Friday. The iShares Bitcoin Trust ETF is the most successful of the 10 spot bitcoin exchange-traded funds, attracting over $7 billion in net investment since its launch in the U.S. on January 11th. Felipe Gonçalves, B3's superintendent of interest and currency products, said in a statement that the expansion offers investors another opportunity to include exposure to Bitcoin in their portfolios and reflects the growing interest in the crypto market worldwide.
The Brazilian version of the fund, called the iShares Bitcoin Trust BDR ETF, has a 0.25% management fee, which will be reduced to 0.12% for the first year or until the fund reaches $5 billion in assets. This move by BlackRock demonstrates the increasing demand for options in the Brazilian capital market as investors from all over the world show interest in the crypto market.