Ethereum ETF from BlackRock Now Available on the Brazilian Stock Exchange
BlackRock is set to introduce its iShares Ethereum Trust (ETHA) on Brazil’s B3 exchange this week. The ether ETF will be traded under the ticker code ETHA39 as a Brazilian depositary receipt (BDR), representing shares of foreign companies. This move follows the successful trading launch of BlackRock’s iShares Bitcoin Trust ETF (IBIT) on the Brazilian stock exchange in March.
Nicolas Gomez, BlackRock’s head of ETFs, index investments, and products for Latin America, highlighted the significance of ETHA39’s launch, providing investors access to the two largest cryptocurrencies by market capitalization. The Brazilian Securities and Exchange Commission (CVM) has been actively approving various ETFs, including two Solana-based ones, reflecting the growing institutional interest in the crypto market.
In the United States, BlackRock’s ETHA has achieved a milestone by surpassing $1 billion in cumulative net inflows, making it the first of 11 issuers to reach this mark. This achievement underscores the increasing demand for crypto investment products and the trust investors have in BlackRock’s offerings.
The introduction of ETHA39 adds another dimension to the diverse range of investment opportunities available to traders in Brazil. With the growing popularity of cryptocurrencies like Bitcoin and Ethereum, institutional players are expanding their portfolios to include digital assets. The Brazilian market has emerged as a robust platform for trading institutional-grade products, attracting significant investments and paving the way for further innovation in the crypto space.
As the crypto landscape continues to evolve, the introduction of ETHA39 signifies a strategic move by BlackRock to cater to the rising demand for crypto investment options. The success of ETHA in the U.S. market sets a positive precedent for its performance in Brazil, highlighting the global interest in digital assets and the increasing adoption of cryptocurrencies in traditional financial markets.
