Ethereum

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BlackRock, the world’s largest asset manager, has launched its Ethereum ETF on Brazil’s B3 stock exchange This ETF, which trades under the ticker code ETHA39, gives investors in Brazil a way to invest in Ethereum, the second-biggest cryptocurrency.
This launch follows the launch of BlackRock’s Bitcoin ETF in Brazil earlier this year, which trades under the ticker IBIT39. Due to strong interest in the Bitcoin ETF, BlackRock decided to expand its offerings to include Ethereum.
The ETHA39 is a Brazilian Depositary Receipt (BDR), which means it represents shares of BlackRock’s Ethereum Trust in the U.S. but can be traded locally in Brazil.&nbsp;
However, investors should be aware that BDRs are taxed similarly to Brazilian shares but don’t offer tax breaks for smaller transactions.
According to a <a href="https://www.infomoney.com.br/onde-investir/etf-de-ethereum-da-blackrock-chega-no-brasil-via-bdr-em-parceria-com-a-b3/" target="_blank" rel="noopener noreferrer nofollow">report</a>, the ETF will start trading in Brazil on Wednesday, August 28, 2024, with a starting price between R$40 ($7.26) and R$50 ($9), depending on how it performs in the U.S. market.&nbsp;
To encourage early investors, BlackRock is reducing the management fee for the first year, lowering it from 0.25% to 0.12% for assets up to US$2.5 billion.
Nicolas Gomez, who oversees ETFs and index investments for Latin America at BlackRock, mentioned that the strong demand for their Bitcoin ETF was a major reason for launching the Ethereum ETF. This addition reflects a growing interest in digital assets in Brazil.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also read: <a href="https://www.cryptotimes.io/2024/08/02/blackrock-continues-to-buy-bitcoin-amid-price-drop/" target="_blank" rel="noopener noreferrer nofollow">Blackrock Continues To Buy Bitcoin Amid Price Drop</a>
</blockquote>

BlackRock Launches Ethereum ETF on Brazil’s B3 Exchange

The Crypto Times

Other articles published on Aug 28, 2024

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