BlackRock is making a significant move in the Brazilian market by listing the iShares Ethereum Trust (ETHA) on the B3 exchange.
New ETF Launch
The listing is scheduled for Wednesday, marking a significant milestone in BlackRock's expansion of crypto products in South America. The new ETF will be traded under the ticker ETHA39 and available as a Brazilian Depositary Receipt (BDR). A BDR is a certificate representing shares of foreign companies traded in Brazil, simplifying the investment process for local investors.
Various Crypto Products
According to Portal do Bitcoin, Nicolas Gomez, the head of ETFs, indexed investments, and products for Latin America at BlackRock, emphasized the importance of this launch: 'The launch of ETHA39 now allows investors to access the two largest cryptocurrencies by market capitalization.' This move provides more options for institutional and retail investors in Brazil. BlackRock previously launched the iShares Bitcoin Trust ETF (IBIT) on the same exchange, and the new product allows investors to access Ethereum, the second-largest cryptocurrency.
ETHA Success in the US
In addition to Bitcoin and Ethereum, the Brazilian Securities and Exchange Commission (CVM) recently approved two ETFs based on Solana for listing on B3. This confirms Brazil's growing significance as a crypto investment hub in Latin America. In the US, BlackRock's ETHA achieved a significant milestone, surpassing $1 billion in net cumulative inflows as of August, becoming the first among 11 issuers to reach this mark. This highlights the growing interest in Ethereum-related investment products among US investors, and now BlackRock is extending this trend to the Brazilian market.
The launch of iShares Ethereum Trust on the B3 exchange signals a growing interest in crypto investments in Brazil and the continued global expansion of BlackRock in this field.
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