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Finance

BlackRock Lists Ethereum ETF on Brazilian Stock Exchange

The company earlier this year listed its iShares Bitcoin Trust ETF in the South American country.

By Andrés Engler
AccessTimeIconAug 27, 2024 at 8:42 p.m. UTC
Updated Aug 27, 2024 at 9:41 p.m. UTC
BlackRock's iShares Ethereum Trust (ETHA) coming to Brazil’s B3 exchange (Unsplash)
BlackRock's iShares Ethereum Trust (ETHA) coming to Brazil’s B3 exchange (Unsplash)
  • 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.
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    • 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.

    “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.

    Edited by Stephen Alpher.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Andrés Engler
    Andrés Engler

    Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC.

    Follow @andresengler on Twitter