BlackRock’s iShares Ethereum Trust ETF (ETHA) Begins Trading on Nasdaq
Today marks the launch of a new fund from BlackRock — iShares Ethereum Trust ETF (ETHA) — on the Nasdaq exchange. This fund is specifically designed to track the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalization after Bitcoin.
Competitive Management Fee
The ETHA fund boasts a competitive management fee of 0.25%, which will be further reduced to 0.12% for assets up to 2.5 billion dollars within the first year. This move is aimed at attracting investors looking to capitalize on Ethereum within an accessible investment platform.
BlackRock’s Vision
Jay Jacobs, head of the American thematic and active ETF division at BlackRock, highlights the increasing investor interest in crypto assets, as evidenced by the popularity of iShares Bitcoin Trust. With the launch of iShares Ethereum Trust ETF, investors now have an opportunity to diversify their investments in the two leading cryptocurrencies in the market.
Robert Mitchneck, head of BlackRock’s global digital asset division, emphasizes that the introduction of ETHA expands the company’s offerings in the digital assets sector, making investments in blockchain technologies more straightforward. This new product displays BlackRock’s dedication to innovation and meeting the evolving needs of its clients.
Expanding Product Line
Following the successful launch of iShares Bitcoin Trust (IBIT) in January 2024, BlackRock’s expansion into the digital assets market underscores its commitment to providing clients access to new and emerging sectors in the financial market.
