The asset manager has expanded its portfolio of crypto-based products in Brazil with the debut of the recently launched iShares Ethereum Trust through a depositary receipt.
BlackRock is expanding its crypto product offerings overseas. On Aug. 28, the company listed its Ethereum exchange-traded fund (ETF) through a depositary receipt on Brazil’s stock exchange B3.
According to local reports, retail and institutional investors can trade the iShares Ethereum Trust (ETHA) under the ticker ETHA39 in the country.
A depositary receipt is a security representing shares in a foreign company or fund. It is typically traded in the local currency and backed by the original asset. As BlackRock introduces its Ether (ETH) ETF to the local market, the shares will be offered at a price equivalent to one-third of their original value.
