- BlackRock has launched a Spot Bitcoin ETF in Brazil after gaining rapid success with its Bitcoin ETF in the US, which surpassed $10 billion AUM in just 7 weeks
- The launch caters to rising global investor demand for crypto assets like Bitcoin, which recently surpassed $62k for the first time since Nov 2021
- With Bitcoin’s value expected to keep increasing ahead of its 2024 halving, BlackRock’s Bitcoin ETF offerings are likely to see continued growth in assets under management.
BlackRock has launched a Spot Bitcoin exchange-traded fund (ETF) in Brazil, expanding from its successful US offering approved just 7 weeks ago.
BlackRock’s Bitcoin ETF Success in the US
BlackRock gained approval from the US Securities and Exchange Commission (SEC) for its iShares Bitcoin Trust ETF (IBIT) in January 2024. The ETF quickly surpassed $10 billion in assets under management, becoming the fastest ETF to reach this milestone.
Launch of Bitcoin ETF in Brazil
On Friday, BlackRock launched its Spot Bitcoin ETF on the Brazilian stock exchange B3. According to Felipe Goncalves, superintendent of B3’s interest and currency products, this presents “another opportunity for investors to include exposure to Bitcoin in their portfolios.”
Demand for Bitcoin Investment Options
There is growing interest in the crypto market from investors globally. Bitcoin has performed particularly well in 2024, recently surpassing $62,000 for the first time since November 2021. With the impending Bitcoin halving event in April, Bitcoin is expected to continue increasing in value. The demand for Bitcoin investment options like ETFs is undeniable.
Conclusion
After achieving rapid success with its Bitcoin ETF in the US, BlackRock has launched the investment product in Brazil. This caters to rising investor demand for crypto assets like Bitcoin across the world. As Bitcoin continues to gain value ahead of the 2024 halving, its ETF offerings are likely to see continued growth in assets under management.
