BlackRock, the world's largest asset manager, has announced the launch of its Ethereum ETF, set to start trading in Brazil on Wednesday, August 28, 2024.
New ETF Launch
BlackRock will list its iShares Ethereum Trust (ETHA) on Brazil’s B3 exchange. The ETF will be offered under the ticker ETHA39 and will trade in the form of Brazilian depositary receipts (BDRs), Coindesk reported.
New Tool for Investors
The new ETF will provide Brazilian investors with exposure to Ethereum (ETH). The move follows BlackRock’s launch of a Bitcoin ETF in Brazil under the ticker IBIT39 in March 2024.
Context and Previous Steps
“With the launch of ETHA39, investors now have access to the two largest cryptocurrencies by market cap,” Nicolas Gomez, BlackRock’s head of ETFs in Latin America, said in a statement. In March this year, BlackRock's iShares Bitcoin Trust ETF (IBIT) began trading on the Brazilian stock exchange.
The launch of the new Ethereum ETF in Brazil marks a significant step for BlackRock and is an important event for the Brazilian cryptocurrency investment market.
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