BlackRock Files First Ethereum Spot ETF

10/11/2023

BlackRock, the multi-trillion dollar asset manager, has filed for the registration of the iShares Ethereum Trust in Delaware, hinting at the potential launch of its first Ethereum spot Exchange Traded Fund (ETF). Although not an active ETF filing, experts anticipate it could lead to an official application with the United States Securities and Exchange Commission (SEC) soon. BlackRock, a major player in finance, previously entered the crypto space with the iShares Bitcoin Trust filing, setting a trend that attracted applications from other firms like Fidelity Investments and VanEck. The news of the Ethereum ETF registration has positively impacted the market, leading to a 6.05% surge in Ethereum's price, breaking the $2,000 resistance level for the first time since mid-July. If approved, the Ethereum ETF could enhance Ethereum's appeal to institutional investors. It's worth noting that BlackRock follows other major players like Grayscale Investments, which have approached the SEC for a spot Ethereum ETF product.

Resource: https://coingape.com/breaking-blackrock-files-first-ethereum-spot-etf/