BlackRock Brings Bitcoin ETF to Brazil Amid Growing Crypto Demand

BlackRock expanded trading of its spot bitcoin ETF, iShares Bitcoin Trust ETF (IBIT), to Brazil on the B3 stock exchange
IBIT started trading in Brazil on Friday under the name iShares Bitcoin Trust BDR ETF
IBIT has attracted over $7 billion in net investment since launching in the US on January 11, the highest inflow among the 10 spot bitcoin ETFs
The Brazilian ETF has a 0.25% management fee, reduced to 0.12% for the first year or until hitting $5 billion in assets
The move comes amid growing interest in crypto assets among Brazilian investors searching for exposure options