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BlackRock Lists Ethereum ETF on Brazilian Stock Exchange
The company earlier this year listed its iShares Bitcoin Trust ETF in the South American country.
Updated Aug 27, 2024, 9:41 p.m. Published Aug 27, 2024, 8:42 p.m.
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- The ether ETF will trade under the ticker code ETHA39 as a Brazilian depositary receipt, a certificate that represents shares of foreign companies.
- In March, BlackRock’s iShares Bitcoin Trust ETF (IBIT) started trading on the Brazilian stock exchange.
BlackRock will list its iShares Ethereum Trust (ETHA), on Brazil’s B3 exchange on Wednesday, according to local media outlet Portal do Bitcoin.
The ETF will trade under the ticker code ETHA39 as a Brazilian depositary receipt (BDR), a certificate that represents shares of foreign companies traded in the South American country.
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“The launch of ETHA39 now allows investors to have access to the two largest cryptocurrencies by market capitalization,” said Nicolas Gomez, BlackRock's head of ETFs, index investments, and products for Latin America.
In March, BlackRock's iShares Bitcoin Trust ETF (IBIT) also started trading on the Brazilian stock exchange, which has become a solid market for institutional products. Beyond Bitcoin and Ethereum, the Brazilian Securities and Exchange Commission (CVM) also recently approved two Solana-based ETFs to be listed on B3.
In August, BlackRock's ETHA surpassed $1 billion in cumulative net inflows in the United States, becoming the first of 11 issuers to cross that mark in net inflows.
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