On the 28th (local time), BlackRock announced that it would sell Ethereum via a depository receipt on the Brazilian B3 stock exchange.
iShares Ethereum Exchange-Traded Fund (ETF) has been listed in Brazil, allowing retail and institutional investors to trade locally under the ticker "iShares Ethereum Trust (ETHA)".
Depository receipts are securities representing shares of foreign companies or funds, generally traded in local currency and backed by the assets of the former.
As Rock introduces the Ethereum ETF to the local market, the shares will be offered at a price equivalent to one-third of the former’s value.
The management fee is 0.25% per year, the same as in the US, but for the first year or ET
Until F's assets under management reach $2.5 billion (approximately 360 billion yen), it will be offered at half that amount, or 0.12%. The introduction of an Ethereum ETF in Brazil was announced by iShares Ethereum Trading Co.
This comes just a few months after the launch of IBIT, BlackRock's Brazil president Cristiano Castro.
"IBIT was the fastest growing ETF in three months, which shows the pent-up demand for the product," Castro said in a local interview.
"BlackRock's strategy is to meet this demand and make it easier for investors to access these digital products within the capital markets."
2024/08/29 16:35 KST
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