After a successful launch of IShare in the United States market, BlackRock‘s Ethereum ETF is about to make its debut on the Brazilian stock exchange as a Brazilian depositary receipt on August 28.
BDR is a certificate that allows foreign assets to be traded on the local exchange. A report shared by the Brazilian news channel Portal do Bitcoin stated that the B3 exchange will carry BlackRock‘s product with a ticket named ETHA39.
In March, BlackRock launched its iShares Bitcoin Trust ETF (IBIT) in Brazil, and Brazil-based investors have a quality access point. The new product, Bitcoin, was launched with a lesser fee of 0. as low as 12% for the whole of the first year. Furthermore, the newly launched ETHA39 Ethereum product in Brazil has been expected to trade between R$40 and R$50, depending on the ETF.
“The launch of ETHA39 now allows investors to have access to the two largest cryptocurrencies by market cap,” stated by head of ETFs at BlackRock for Latin America, Nicolas Gomez.
A still said that the new launch, would “simplify” the asset for investors, Cristiano Castro, the Director of BlackRock in Brazil. He further commented that “ETH has the potential to accommodate a large and varied number of uses of blockchain.”
Brazil’s Solana ETF Momentum Doesn’t Draw BlackRock’s Interest
Solana has grown tremendously in Brazil, especially after the recent approval of Solana ETFs. In August of this year, Brazil’s CVM approved two Solana-based ETF products. Current information from the Commission’s main registry indicates Solana ETFs of QR Asset and the Hashdex asset manager have now been registered in the country.
At the same time, BlackRock has no intention of applying for a Solana ETF soon. Samara Cohen of BlackRock in an interview with Bloomberg that BlackRock is in the process of determining which company assets allow it to offer an ETF.
