BlackRock, the world’s largest asset manager, is set to launch its spot Ethereum 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.
Debut of BlackRock ETF
The iShares Ethereum Trust (ETHA) ETF, managed by BlackRock, will debut on Brazil’s B3 exchange. The fund will provide investors with the opportunity to invest in Ethereum, the world’s second-largest cryptocurrency by market capitalization.
Trading on B3 Exchange
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.
Market and Competitive Products
According to 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.
The launch of BlackRock’s spot Ethereum ETF on Brazil’s B3 exchange offers investors a new way to participate in the cryptocurrency market, expanding access to one of the leading digital currencies.
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