BlackRock Advisors Files for iShares Ethereum Trust Entity
According to the Delaware Department of State Division of Corporations website, BlackRock Advisors has filed for an iShares Ethereum Trust entity. This filing indicates that BlackRock may be increasing its involvement in the crypto market. Currently, the world’s largest asset manager is awaiting a decision on its spot bitcoin ETF application from the Securities and Exchange Commission.
A BlackRock spokesperson declined to comment on the filing. Following this news, the price of Ether has surged by nearly 8% to around $2,040.
BlackRock’s Bitcoin ETF Filing
In June of this year, BlackRock filed for the iShares Bitcoin Trust, which significantly impacted the markets. The iShares brand is associated with BlackRock’s exchange-traded fund products. The registration statement with the SEC included details such as its custodian (Coinbase Custody Trust Company) and benchmark (the CME CF Bitcoin Reference Rate from Administrator CF Benchmarks).
While an iShares Ethereum Trust filing is not yet visible on the SEC’s website, historical data suggests that it may appear next week. The SEC is currently reviewing multiple spot bitcoin ETF applications, including one from BlackRock.
Various trading firms are already in discussions to provide liquidity for BlackRock’s proposed spot bitcoin ETF if it receives regulatory approval. The potential approval of a spot bitcoin ETF has contributed to a recent rally in bitcoin prices.
Hot Take: BlackRock’s Crypto Expansion Signals Growing Interest in Digital Assets
The recent filing by BlackRock Advisors for an iShares Ethereum Trust entity indicates a potential increase in their involvement in the crypto market. This move comes after their filing for the iShares Bitcoin Trust earlier this year, showing a clear interest in digital assets. If approved, these filings could have significant implications for both the crypto market and traditional finance.
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