BlackRock Boosts Crypto Market with Ethereum ETF
In a recent Nasdaq filing, the largest asset manager globally disclosed its intentions to establish an ETF centered around Ethereum, reinforcing its commitment to the cryptocurrency market.
Notably, in June 2023, BlackRock submitted an application to the SEC seeking approval for a spot Bitcoin ETF. A
s of now, the regulatory body has yet to greenlight any spot ETF linked to cryptocurrencies, consistent with its cautious stance on the crypto market.
However, there are indications, as reported by CoinTelegraph, that the SEC might approve all 12 pending applications for spot Bitcoin ETFs within the next eight days.
Following this development, the price of ETH experienced a notable surge, reaching its daily peak at $2,100 and achieving a six-month high.