- Launch of Ethereum ETF in Brazil
- BlackRock's IBIT Debut in Brazil and General ETF Performance
- Prospects for Cryptocurrencies in Brazil
Brazilian authorities have given the green light for the listing of BlackRock's Ethereum ETF on the local B3 exchange. This move comes months after the launch of the Solana ETF in the country.
Launch of Ethereum ETF in Brazil
The ETF is expected to debut today, August 28, under the code ETHA39. The product will be structured through an international asset receipt (BDR), which represents certificates of shares issued by a company in other countries. The initial price will range from $7.26 to $9.0, with a management fee of 0.12% on the first $2.5 billion under management.
BlackRock's IBIT Debut in Brazil and General ETF Performance
In March, BlackRock launched its iShares Bitcoin Trust ETF (IBIT) in Brazil with a management fee of 0.25%, which was reduced to 0.12% in the first year. B3's Superintendent of Interest and Currency Products, Felipe Gonçalves, noted that this move was due to the growing demand for this asset class in Brazil.
Prospects for Cryptocurrencies in Brazil
Recently, BlackRock hit a historic landmark with ETHA, becoming the first issuer to reach $1 billion in net inflows. Brazil's Securities and Exchange Commission recently approved the second Solana ETF, which could signal the US to consider approving such products.
With the launch of new ETFs in Brazil, the cryptocurrency market continues to expand. The approval of such products reflects the growing interest in digital assets in the region.
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