BlackRock’s Ethereum ETF, ETHA39, is now available on Brazil’s B3 exchange, with a 0.12% commission charged during the initial year.
The Ethereum ETF, recently introduced by BlackRock, will commence trading in Brazil on Wednesday, August 28, 2024. BlackRock’s cryptocurrency offerings in the Brazilian market will be expanded with the availability of the ETF on the B3 stock exchange under the ticker code ETHA39.
BlackRock Rolls Out Ethereum ETF in Brazil
BlackRock has announced the introduction of its Ethereum ETF in Brazil following its launch in the United States in July 2024. Under the identifier ETHA39, the ETF will be accessible for trading on B3, Brazil’s primary stock exchange.
This action follows the triumph of BlackRock’s iShares Bitcoin Trust ETF (IBIT), which was introduced on the same exchange earlier this year.
Shares of the iShares Ethereum Trust (ETHA) traded in the United States are represented by the Brazilian Depositary Receipt (BDR) that the ETF is constituted as. The price of each BDR unit will vary between R$40 and R$50, contingent upon the Ethereum ETF’s movement on the day before its Brazilian introduction. This pricing is equivalent to one-third of the original fund’s share value.
The administration fee for the ETHA39 BDR will be 0.25%. Nevertheless, BlackRock has declared that this fee will be waived for the first year, thereby reducing the cost to 0.12% for the initial US$2.5 billion assets under management (AUM). This fee structure is intended to appeal to investors interested in diversifying their portfolios by incorporating Ethereum.
