BlackRock launches Ethereum spot ETF in Brazil

BlackRock, in partnership with B3, announced this Tuesday, 27th, the launch of the ETF BDR iShares Ethereum Trust ETF (ETHA39) which replicates the American manager’s Ethereum spot ETF in Brazil.

According to BlackRock, the BDR will begin trading on August 28th on B3. The underlying ETF of ETHA39 seeks to track the price of Ethereum’s native token, ether, and applies a management fee of 0.25%, with a one-year waiver, reducing the fee to 0.12% on the first assets under management (AUM) of US$2.5 billion.

“The robust demand for the iShares Bitcoin Trust, made available by B3 through the IBIT39 ETF BDR, highlights investors’ preference for accessing a crypto asset through the convenience and accessibility of the iShares investment platform. The launch of ETHA39 now allows investors to access the two largest cryptocurrencies by market cap,” says Nicolas Gomez, Head of ETFs, index investments and products at BlackRock for Latin America.

The underlying ETHA39 ETF is powered by the same technology and risk management expertise used in over 1,300 iShares ETFs worldwide.

“The launch of ETHA39 expands the offering of digital assets and simplifies investors’ access to an asset that has the potential to support a wide and diverse range of blockchain applications,” says Cristiano Castro, Director of BlackRock in Brazil.

Ethereum

The ETHA39 ETF BDR is backed by the iShares Ethereum Trust ETF, launched in June 2024 by BlackRock in the United States.

According to the company, BlackRock’s suite of digital asset products demonstrates the company’s continued dedication to providing clients with access to new and dynamic market opportunities, as well as proving the manager’s commitment to driving innovation for clients.

“There is a growing interest in the crypto market from investors around the world and in Brazil it is no different. B3 is attentive to the demands of investors and committed to offering products from the simplest to the most sophisticated, with security and credibility”, says Felipe Gonçalves, superintendent of Interest and Currency Products at B3.

Follow Todaysgist on