ETF News: BlackRock Expands Ethereum (ETH) ETF to Brazilian Market
BlackRock Takes Ethereum ETF to Brazil
American asset manager BlackRock has launched its Ethereum ETF, the iShares Ethereum Trust (ETHA), on the Brazilian stock exchange under ticker ETHA39. This move provides Brazilian investors greater access to digital assets through Brazilian Depositary Receipts (BDRs).
About the ETF
ETHA39 is priced at one-third of ETHA’s share, trading between R$40 and R$50 ($7.26 to $9.07) with a management fee of 0.25%, temporarily reduced to 0.12% for the first year on the initial $2.5 billion in AUM. Notably, ETHA recently became the first Ethereum ETF to exceed $1 billion in net inflows.
Market Positioning
Currently, ETHA holds $860 million in net assets, surpassing Grayscale’s Ethereum products. Additionally, BlackRock's Bitcoin fund ranks among the top five ETFs by inflows for 2024, solidifying its dominant position in the ETF market.
Further Offerings
Alongside its Ethereum ETF, BlackRock also offers a spot Bitcoin ETF in Brazil, known as IBIT39, which highlights the firm’s commitment to expanding cryptocurrency investment avenues.
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