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.
BlackRock has taken proactive steps by establishing a dedicated corporate entity aligned with its ETF division, named the ‘iShares Ethereum Trust.’ This entity is officially registered in Delaware.
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.
READ MORE: UAE Bound: Standard Chartered and SBI Forge $100M Digital Asset Venture
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.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
