Brazilian Stock Exchange listed ETH ETF ETHA from BlackRock

Earlier, bitcoin fund IBIT also started trading on the platform

28.08.2024 - 10:41

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What’s new? BlackRock, the world’s largest investment company with more than $10 trillion in assets under management, listed its Ethereum-based spot exchange-traded fund (ETF) on Brazil’s B3 stock exchange. In March, B3 also listed a spot BTC ETF from BlackRock.

Material by CoinDesk

What else is known? The ETF will be traded under the ticker ETHA39 as a Brazilian depositary receipt (BDR), a certificate representing shares of foreign companies traded in the country.

BlackRock’s IBIT bitcoin fund began trading on the US Nasdaq stock exchange on January 11. IBIT is the largest in the BTC ETF segment, it manages $22,2 billion in assets, and inflows into the product have approached the $21 billion mark.

BlackRock’s ETH fund under the ticker ETHA went public on the Nasdaq on July 23. In August, its cumulative segment-first inflows reached the $1 billion mark. In terms of assets under management, ETHA is second to Grayscale’s ETHE fund and ETH Mini Trust with $860,42 million.

As for Brazil, this month the securities regulator has already allowed two funds from local investment companies based on the Solana (SOL) blockchain’s native token to be traded on B3.

The first fund is managed by investment firm QR Asset in conjunction with fintech company Vortx and is backed by the CME CF Solana Dollar Reference Rate index. The second is offered by local firm Hashdex with $962 million in assets under management in conjunction with investment bank BTG Pactual.

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