Fun

BlackRock Brazil launching depositary receipts fund mirroring US BTC ETF

News Feed - 2024-03-01 05:03:25

Derek Andersen3 hours agoBlackRock Brazil launching depositary receipts fund mirroring US BTC ETFThe Brazilian ETF will launch on March 1 on the B3 platform. There are already 13 Brazilian ETFs with crypto exposure.1459 Total views20 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBlackRock’s iShares spot Bitcoin (BTC) exchange-traded fund will be available in Brazil thanks to the launch of a new BTC BDR (Brazilian Depositary Receipts) ETF. Trading will begin on March 1, the world’s largest asset manager announced on Feb. 29. 


BlackRock will partner with Brazilian financial market infrastructure provider B3 to offer the new product, BlackRock Brazil president Karina Saade said at the company’s headquarters in São Paulo. Saade stated:“The launch of the iShares Bitcoin Trust ETF BDR, IBIT39, advances the innovation of ETFs and allows access to bitcoin for investors through a security — the ETF BDR — that can be incorporated […] into their portfolios."


BDRs of foreign ETFs are securities issued in Brazil and backed by shares of ETFs issued abroad. The Brazilian ETF is thus effectively the same BTC ETF that BlackRock launched in the United States in January. It will mirror the U.S. ETF’s performance and carry an administrative fee of 0.25%, offset by a one-year exemption on the first $5 billion of assets under management (AUM). BDRs are fully taxable.


Related: BlackRock’s Bitcoin ETF reaches top 0.2% of all ETFs so far this year


The Brazilian fund will be available to investors that already have at least 1 million reals ($201,000) invested in the market. BlackRock Brazil is still waiting for approval of retail sales.


There are 13 ETFs with crypto exposure listed on B3, which began listing in 2021. They have a combined value of 2.5 billion reals ($503 million). The Brazilian crypto ETFs have seen 30 million reals ($5 million) in trade volume so far this year.


The BlackRock spot BTC ETF was one of 10 approved by the United States Securities and Exchange Commission on Jan. 10. The fund reached $2 billion in AUM in two weeks and tied with Fidelity’s spot BTC fund in having the largest debut month in the history of ETFs. The BlackRock ETF currently has over $8 billion in AUM.


According to various media reports, BlackRock will consider the launch of a spot Ether (ETH) ETF in Brazil if it receives SEC approval to launch one in the United States.


Magazine: 6 Questions for Lugui Tillier about Bitcoin, Ordinals, and the future of crypto# Bitcoin# Business# Brazil# Bitcoin Price# ETFAdd reactionAdd reactionRead moreDespite 23% gains, Bitcoin options traders still not bullishBitcoin miner reserves held steady in February, despite $40B flows to exchangesBitcoin price holds above $62K as ETFs see record volumes

News Feed

SEC Fines Nvidia $5.5 Million for Failing to Disclose Crypto Mining Significantly Boosted Its Revenue
SEC Fines Nvidia $5.5 Million for Failing to Disclose Crypto Mining Significantly Boosted Its Revenue The U.S. Securities and Exchange Commission (SEC) has charged Nvidia Corp. for
Indian Commerce Giant Flipkart Will Allow Customers to Purchase Items in the Metaverse
Indian Commerce Giant Flipkart Will Allow Customers to Purchase Items in the Metaverse Flipkart, the Walmart-backed Indian e-commerce giant, has launched a pilot to allow its custo
Helen Partz11 hours agoHut 8 boosts self-mined Bitcoin reserves to 9.4K amid USBTC mergerAccording to Hut 8 CEO Jaime Leverton, the newly merged mining business will have “highly diversified fiat revenue streams.”349
Here’s what happened in crypto today
Cointelegraph1 hour agoHere’s what happened in crypto todayNeed to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto
LYO Credit (LYO) Is Now Available for Trading on LBank Exchange
LYO Credit (LYO) Is Now Available for Trading on LBank Exchange press release PRESS RELEASE.INTERNET CITY, DUBAI, Jul. 10, 2022 – LBank Exchange, a global digital asset tradi
Crypto Market Outlook: VanEck Issues 10 Predictions, Including Bitcoin Nearing $200,000
Este artículo también está disponible en español. As speculation swirls around the future trajectory of Bitcoin (BTC) and the broader cryptocurrency market, asset managem
Ethereum price (ETH) hits $4,000 for the first time since 2021
Nancy Lubale5 hours agoEthereum price (ETH) hits $4,000 for the first time since 2021ETH price set a new multi-year high at $4,000 right as Bitcoin price hit a new all-time high.1766 Total views8 Total sharesListen to ar
TradeStars Aims To Impress As The Platform Launches New DFS Feature
TradeStars Aims To Impress As The Platform Launches New DFS Feature press release PRESS RELEASE.TradeStars has recently announced the launch of their brand new feature, Daily Fantas
Best Meme Coins to Buy as Crypto Firms Pursue Bank Charters
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Hong Kong ETFs open the ‘door’ to Chinese RMB holders, issuers say
Martin Young2 hours agoHong Kong ETFs open the ‘door’ to Chinese RMB holders, issuers sayFund issuers and industry experts hope Hong Kong’s new crypto ETFs will open the door for mainland Chinese investment in the
Binance Shutting Down Crypto Exchange Services in Singapore
Binance Shutting Down Crypto Exchange Services in Singapore Crypto exchange Binance is winding down its exchange operation in Singapore after the company decided to withdraw its ap
5 Countries Will Accept Bitcoin as Legal Tender by End of Next Year, Says Bitmex CEO
5 Countries Will Accept Bitcoin as Legal Tender by End of Next Year, Says Bitmex CEO By the end of next year, at least five countries will have accepted bitcoin as legal tender, th