Exciting News for Brazilian Crypto Investors 🚀
If you’re a crypto investor based in Brazil, get ready for some exciting news coming your way! BlackRock, a leading asset manager, is set to launch its exchange-traded fund (ETF), in the form of Brazilian depositary receipts (BDR), on the Brazilian stock exchange. This move will provide Brazilian investors with an opportunity to invest in foreign companies through BDRs, which represent shares of these companies traded within Brazil.
BlackRock Expands Crypto Offerings in Brazil 🌎
- BlackRock recently launched its iShares Bitcoin Trust ETF (IBIT) in Brazil, offering Brazilian investors high-quality access to Bitcoin.
- The IBIT39, as it’s known, started trading with a reduced fee of 0.12% for the first year to attract investors.
- Following the success of its Bitcoin ETF, BlackRock is now introducing an iShares Ethereum Trust ETF (ETHA) in Brazil.
- The ETHA39 ETF will be listed on the B3 exchange and is expected to be traded between R$40 and R$50, depending on market movements.
According to Nicolas Gomez, the head of ETFs at BlackRock for Latin America, the launch of ETHA39 will give investors in Brazil access to the two largest cryptocurrencies by market cap – Bitcoin and Ethereum.
What About Solana ETFs in Brazil?
Brazil’s recent approval of Solana-based ETFs has sparked interest in the crypto market, with two Solana ETF products already approved by the country’s Securities and Exchange Commission (CVM) in August. However, BlackRock has chosen not to follow suit in the Solana ETF trend.
- Brazilian asset managers have taken the lead in offering Solana ETF products, with approvals from CVM for and .
- In a recent statement to Bloomberg, Samara Cohen, BlackRock’s CIO of ETF and index investments, mentioned that the firm is currently focusing on the investability of assets like Bitcoin and Ethereum.
- While Bitcoin and ETH meet the criteria for investability, BlackRock is hesitant to explore other cryptocurrencies for ETFs at the moment.
Hot Take 🔥
If you’re a crypto enthusiast in Brazil, the arrival of BlackRock’s ETF offerings is a game-changer. With access to Bitcoin and Ethereum ETFs, you can now diversify your investment portfolio with two of the largest cryptocurrencies in the market. While Solana ETFs have made waves in Brazil, BlackRock’s decision to focus on Bitcoin and Ethereum highlights the popularity and investor demand for these digital assets.
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