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BlackRock Files For Spot Ethereum ETF, ETH Price To Rally? – Crypto News

Published

2 years ago

November 16, 2023

Dripp

In a strategic move that could reshape the landscape of cryptocurrency investments, BlackRock, the world’s largest asset manager, has officially submitted an application for a spot Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). This development follows BlackRock’s recent registration of the iShares Ethereum Trust entity, signaling a significant step towards offering investors exposure to the performance of Ethereum.

BlackRock Files For Ethereum Spot ETF

BlackRock’s Ethereum ETF, known as the iShares Ethereum Trust, aims to mirror the performance of the Ether cryptocurrency, as disclosed in the recently filed Form S-1 with the SEC. This move signifies BlackRock’s strategic foray into the rapidly evolving world of digital assets, reflecting the growing institutional interest in Ethereum.

Meanwhile, the filing comes on the heels of BlackRock’s registration of the iShares Ethereum Trust entity with the Delaware Department of State Division of Corporations. Notably, BlackRock has been actively navigating the cryptocurrency space, having previously filed for the iShares Bitcoin Trust in June.

The anticipation around BlackRock’s spot Bitcoin ETF has already influenced markets, with trading firms like Jane Street, Virtu Financial, and Jump Trading reportedly in discussions to provide liquidity if the ETF secures regulatory approval.