Asset manager BlackRock has announced the launch of its Ethereum exchange-traded fund (ETF) on the Brazilian stock exchange as a Brazilian depositary receipt (BDR). The ETF, named ETHA39, is set to debut in Brazil on Wednesday following the successful launch of its iShares Ethereum Trust (ETHA) ETF in the US. The BDR represents shares of foreign companies traded in Brazil, providing Brazilian investors with high-quality access vehicles to the two largest cryptocurrencies by market cap.
In March, BlackRock introduced its iShares Bitcoin Trust ETF (IBIT) in Brazil, trading under the ticker IBIT39 with a reduced fee of 0.12% for the first year. The launch of the ETHA39 ETF in Brazil further expands investor access to digital assets. The new ETHA39 product is expected to trade between R$40 and R$50, allowing investors to participate in the movement of the ETF. Nicolas Gomez, head of ETFs at BlackRock for Latin America, highlighted the significance of providing access to both Bitcoin and Ethereum for Brazilian investors.
Brazil has recently approved Solana-based ETF products, with asset managers QR Asset and Hashdex receiving regulatory approval from the Securities and Exchange Commission (CVM). However, BlackRock has expressed no immediate plans to launch a Solana ETF, citing the need to assess the “investability” of the asset. Samara Cohen, CIO of ETF and index investments at BlackRock, mentioned that Bitcoin and ETH currently meet the criteria for an ETF, but it may take some time before other assets are considered.
The introduction of the ETHA39 ETF in Brazil simplifies investor access to Ethereum, a widely used blockchain platform that supports a diverse range of applications. Cristiano Castro, director of BlackRock in Brazil, emphasized the potential of Ethereum to drive innovation in the blockchain industry and enhance investment opportunities for Brazilian investors. The partnership between BlackRock and the B3 exchange further strengthens the presence of digital assets in the Brazilian market, offering investors diversified options for portfolio growth and risk mitigation.
With a strong focus on delivering authoritative insights, Cryptonews is a trusted source for comprehensive coverage of the crypto industry. The team of journalists and analysts at Cryptonews combines market knowledge with hands-on testing of blockchain technologies, ensuring accurate and impartial reporting on digital assets. The launch of BlackRock’s Ethereum ETF in Brazil underscores the growing interest in cryptocurrencies among institutional investors and retail traders alike. As the crypto landscape continues to evolve, Cryptonews remains committed to providing reliable information on emerging trends and developments in the blockchain space.
