BlackRock will launch an Ethereum ETF on the Brazilian stock exchange.
A BDR is a certificate that represents foreign company shares traded in Brazil.
It will launch in Brazil on Wednesday. A month ago, it launched its iShares Ethereum Trust (ETHA) ETF in the US. The ether ETF will be called ETHA39, according to a report by Portal do Bitcoin. The B3 exchange will also trade the product.
In March, BlackRock launched its iShares Bitcoin Trust ETF (IBIT) in Brazil to give investors there better access to bitcoin. The Bitcoin product, IBIT39, started trading with a reduced fee of 0.12% for the first year.
The new ETHA39 product in Brazil is expected to trade between R$40 and R$50.
BlackRock Brazil director Cristiano Castro said the launch would make it easier for investors to access the asset. He added that ETH could support many different blockchain applications.