BlackRock is set to introduce its iShares Ethereum Trust (ETHA) on Brazil’s B3 exchange this Wednesday, as reported by local media outlet Portal do Bitcoin.

The ETF, which will trade under the ticker ETHA39, is structured as a Brazilian depositary receipt (BDR). This financial instrument represents ownership of shares in foreign entities, allowing Brazilian investors to access international markets through their domestic exchange.

“The introduction of ETHA39 grants investors the opportunity to diversify into the two largest cryptocurrencies by market capitalization,” stated Nicolas Gomez, BlackRock’s head of ETFs, index investments, and products for Latin America.

In March, BlackRock launched its iShares Bitcoin Trust ETF (IBIT) on the same exchange, solidifying Brazil’s status as a burgeoning hub for institutional financial products. Additionally, the Brazilian Securities and Exchange Commission (CVM) recently gave the green light for two Solana-based ETFs to be listed on B3, further expanding the range of crypto investment options available to local investors.

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In the U.S., BlackRock’s ETHA achieved a significant milestone in August, surpassing $1 billion in cumulative net inflows, making it the first of 11 issuers to reach this benchmark.