BlackRock has officially announced the launch of a spot Ethereum ETF in Brazil, which will be traded on the B3 stock exchange under the ticker ETHA39.
This development underscores the growing global interest in cryptocurrencies, signaling that digital assets are becoming an increasingly important part of the financial landscape.
The launch of BlackRock’s Ethereum ETF in Brazil is particularly noteworthy as it coincides with a resurgence in market activity.
On August 28, the Ethereum spot ETF recorded a positive net inflow of $5.8447 million—the first net inflow after nine consecutive days of outflows. This turnaround suggests a renewed interest in Ethereum, particularly as institutional players begin to take notice.
NEWS: Spot #Ethereum ETF saw its first positive net inflow of $5.8M yesterday after nine days of consecutive outflows. pic.twitter.com/DO6ttRpHxh
— CoinGecko (@coingecko) August 29, 2024
In addition to BlackRock’s ETHA39, other Ethereum ETFs also saw significant movements. Grayscale’s Ethereum Trust (ETHE) experienced an outflow of $3.8112 million, indicating some investors are reallocating funds.
#BlackRock has announced the launch of a spot #Ethereum ETF in Brazil 🇧🇷, which will be traded on the B3 stock exchange under the ticker ETHA39.
This event highlights the growing interest in cryptocurrencies and signals to other countries that digital assets are becoming an… pic.twitter.com/faucWifI5H
— Patex (@patex_ecosystem) August 29, 2024
Meanwhile, BlackRock’s ETHA saw an inflow of $8.3967 million, and Fidelity’s FETH attracted $1.2592 million in new investments, further highlighting the growing demand for Ethereum-based products.
Ethereum spot ETF had a total net inflow of $5.8447 million on August 28, the first net inflow after net outflows in the past 9 days. Grayscale ETF ETHE had an outflow of $3.8112 million, BlackRock ETF ETHA had an inflow of $8.3967 million, and Fidelity ETF FETH had an inflow of…
— Wu Blockchain (@WuBlockchain) August 29, 2024
Ethereum Market Gets Attention From Top Whale
In parallel to these developments, whale activity in the Ethereum market has drawn attention. A notable whale recently deposited 6,900 ETH (approximately $17.87 million) to Binance, raising speculation about future market moves.
This whale had previously withdrawn 65,000 ETH (worth $196.4 million) from exchanges at an average price of $3,021 between January 28 and May 28. However, starting July 16, the whale began selling off their holdings, offloading 21,865 ETH (valued at $67.24 million) at an average price of $3,075.
A whale deposited 6,900 $ETH($17.87M) to #Binance again 30 minutes ago.
This whale withdrew 65K $ETH($196.4M) at $3,021 from exchanges between Jan 28 and May 28.
Then he started selling $ETH on Jul 16, having sold 21,865 $ETH($67.24M) at an average price of $3,075.… pic.twitter.com/3jQebO4QQ6
— Lookonchain (@lookonchain) August 29, 2024
The combination of these factors—BlackRock’s ETF launch, renewed investor interest, and significant whale activity—suggests that Ethereum is poised for further developments in the coming months. As digital assets continue to gain traction, Brazil’s embrace of Ethereum ETFs may pave the way for other nations to follow suit.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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