Breaking: BlackRock Rolls Out Ethereum ETF In Brazil Via BDR

As an experienced crypto investor with a keen eye for market trends and a knack for spotting lucrative opportunities, I must admit that BlackRock’s expansion into Brazil with its Ethereum ETF has piqued my interest. Having witnessed the success of their iShares Bitcoin Trust ETF (IBIT) in the same market earlier this year, it seems that BlackRock is making a strategic move to capitalize on the growing demand for digital assets in Latin America.


On August 28, 2024, BlackRock is set to debut its Ethereum-focused ETF for trading on the B3 stock exchange in Brazil. This new financial instrument, identified by the ticker symbol ETHA39, signifies an extension of BlackRock’s cryptocurrency services within the Brazilian market.

BlackRock Expands Crypto Offerings in Brazil

BlackRock has disclosed plans to launch an Ethereum-based Exchange Traded Fund (ETF) in Brazil, mirroring its July 2024 introduction in the U.S. The new ETF can be traded on B3, Brazil’s principal stock market, using the symbol ETHA39. This action follows the positive reception of BlackRock’s iShares Bitcoin Trust ETF (IBIT), which made its debut on the same exchange earlier this year.

The Exchange Traded Fund (ETF) functions like a Brazilian Depositary Receipt (BDR), standing in for shares from the iShares Ethereum Trust (ETHA) in U.S. markets. Each BDR unit will cost between 40 to 50 Brazilian Real, with the price adjusting based on the ETF’s performance on the day prior to its launch in Brazil. This value is equivalent to one-third of the initial fund share worth.

As a researcher delving into the intricacies of investment products, I’m excited to share that the ETHA39 BDR I’ve been exploring comes with an initial management fee of 0.25%. But here’s the best part – BlackRock has just announced they’ll be waiving this fee for the first year! This means the actual cost for managing the first $2.5 billion in assets will only amount to 0.12%. This unique fee structure is strategically designed to entice investors seeking a diverse portfolio, with Ethereum exposure being one of its key components.

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2024-08-28 00:31