The post BlackRock Ethereum ETF Launches in Brazil: Key Details appeared on BitcoinEthereumNews.com.

American asset manager BlackRock has listed its Ethereum ETF (exchange-traded fund) on a Brazilian stock exchange, with trading set to begin on Wednesday, August 28. The Brazilian market is increasingly embracing crypto ETFs, providing institutional investors with greater access to digital assets. This development marks another step in the growing acceptance of cryptocurrencies in traditional financial markets. BlackRock Takes Ethereum ETF to Brazil BlackRock has expanded its recently launched Ethereum ETF, known in the US as iShares Ethereum Trust (ETHA), to the Brazilian market under the ticker ETHA39. This offering is available to Brazilian investors through Brazilian Depositary Receipts (BDRs) traded on the B3 stock exchange. BDRs are certificates that represent shares of foreign companies, making BlackRock’s ETHA39 an ETF BDR. ETHA39 is valued at one-third of ETHA’s share, trading within the range of R$40 to R$50 ($7.26 to $9.07) with a management fee of 0.25%. However, BlackRock has temporarily reduced this fee to 0.12% on the first $2.5 billion in AUM for a year. Recently, BlackRock’s ETHA achieved an important milestone by becoming the first Ethereum ETF to surpass $1 billion in net inflows. In comparison, its competitors — Fidelity’s FETH, Bitwise’s ETHW, and Grayscale’s ETH — recorded net inflows of $367 million, $310 million, and $227 million, respectively. Read more: How to Invest in Ethereum ETFs? ETHA, BlackRock’s Ethereum ETF, currently holds $860 million in net assets. It surpasses Grayscale’s mini Ethereum trust (ETH) and Ethereum trust (ETHE). Moreover, BlackRock’s Bitcoin fund has ranked among the top five ETFs by 2024 inflows, including non-crypto ETFs, further solidifying BlackRock’s leadership in the market. In addition to Ethereum, BlackRock also offers a spot Bitcoin ETF in Brazil, known as IBIT39. Launched in March following a landmark decision in January, IBIT39 is advertised as the BDR of BlackRock’s Bitcoin ETF. “The launch…

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Filed under: News - @ August 28, 2024 7:25 pm