BlackRock Launches iShares Ethereum Trust in Brazil

In a significant move for cryptocurrency investment in South America, BlackRock is set to launch its iShares Ethereum Trust (ETHA) on Brazil’s prominent B3 exchange this Wednesday, as reported by the local media outlet Portal do Bitcoin. This innovative exchange-traded fund (ETF) will trade under the ticker symbol ETHA39, functioning as a Brazilian depositary receipt (BDR). This certificate represents shares of foreign companies, allowing Brazilian investors to access international markets more easily.

According to Nicolas Gomez, BlackRock’s head of ETFs, index investments, and products for Latin America, “The launch of ETHA39 now enables investors to gain exposure to the two largest cryptocurrencies by market capitalization.” This development marks a pivotal moment for cryptocurrency trading in Brazil, particularly as it aligns with the growing interest in digital assets among institutional investors.

Earlier this year, in March, BlackRock also introduced its iShares Bitcoin Trust ETF (IBIT) on the Brazilian stock exchange, reinforcing the country’s reputation as a robust market for institutional investment products. Moreover, the Brazilian Securities and Exchange Commission (CVM) has recently taken steps to expand the range of available ETFs, having approved two Solana-based ETFs for listing on B3.

Adding to the excitement, BlackRock’s ETHA has already achieved a remarkable milestone, surpassing $1 billion in cumulative net inflows in the United States this August. This accomplishment makes it the first among 11 issuers to reach such a significant threshold in net inflows, highlighting the increasing appetite for cryptocurrency investment vehicles.