BlackRock Launches Ethereum ETF on Brazilian Stock Exchange
BlackRock has introduced its Ethereum ETF to the Brazilian stock market, with trading commencing on August 28.
This move comes as Brazil increasingly embraces cryptocurrency ETFs, offering institutional investors expanded access to digital assets.
The ETF, branded as ETHA39 in Brazil and based on the iShares Ethereum Trust from the US, will be available through Brazilian Depositary Receipts (BDRs) on the B3 exchange.
Priced at approximately one-third of the ETHA share, ETHA39 trades between R$40 and R$50 ($7.26 to $9.07) and initially has a reduced management fee of 0.12% for the first $2.5 billion in assets.
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This launch follows BlackRock’s recent achievement of its Ethereum ETF surpassing $1 billion in net inflows.
In comparison, competitors such as Fidelity, Bitwise, and Grayscale have reported lower inflows. BlackRock’s Bitcoin ETF is also performing strongly, ranking among the top five ETFs by inflows for 2024.
In addition to ETHA39, BlackRock offers a spot Bitcoin ETF in Brazil, IBIT39, which debuted in March. Despite recent struggles with Ethereum ETFs in the US, Brazil is advancing its position in the crypto space, having also introduced the Solana ETF earlier this month.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
