The post BlackRock to Debut ETHA on Brazilian Exchange on Wednesday appeared on BitcoinEthereumNews.com.

BlackRock will debut its spot ETH ETF on Brazil’s B3 exchange on Wednesday. The ETF will trade on B3 under the ticker ETHA39 as a Brazilian depositary receipt. Brazil also recently approved two spot Solana ETFs for investors. BlackRock, the world’s largest asset manager, is set to launch its spot Ethereum exchange-traded fund (ETF) on Brazil’s B3 exchange. The iShares Ethereum Trust (ETHA) will debut on Wednesday, offering investors exposure to the world’s second-largest cryptocurrency. Reports indicate the spot Ethereum ETF will trade on B3 under the ticker ETHA39 as a Brazilian depositary receipt (BDR). A BDR is a certificate representing shares of foreign institutions traded in Brazil. Nicolas Gomez, BlackRock’s head of ETFs, index investments, and products in Latin America, commented: “The launch of ETHA39 now allows investors to have access to the two largest cryptocurrencies by market capitalization.” On the other hand, as per the data from SoSoValue, on August 27, US spot Ethereum ETFs experienced outflows of $3.45 million, with Grayscale’s ETHE losing $9.18 million. Fidelity’s FETH and Bitwise’s ETHW saw inflows of $3.88 million and $1.86 million, respectively. It is important to note that BlackRock’s iShares Bitcoin Trust (IBIT) debuted on the Brazilian stock exchange in March after the U.S. SEC approved it in January. BlackRock’s ETHA received approval in May, along with Fidelity and VanEck’s spot ETH ETFs. SoSoValue confirms that the US spot BTC ETF market witnessed outflows worth $127.05 million on August 27 with Grayscale’s GBTC bleeding $18.32 million. Meanwhile, ARK and 21Shares’ ARKB experienced outflows worth $101.97 million. In addition, the Brazilian Securities and Exchange Commission (CVM) has approved two spot Solana ETFs in the country, which were also listed on B3. These investment products allow investors to gain exposure to Solana without directly investing in SOL, the native token of the…

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Filed under: News - @ August 28, 2024 12:25 pm