Investment Giant BlackRock Registers Ethereum Trust in Delaware As ETH Surpasses $2,000
An investment firm with trillions of dollars worth of assets under its management is registering an Ethereum (ETH) trust in Delaware as the leading altcoin surges over $2,000. According to new filing documents shared on the social media platform X, BlackRock has registered its iShares Ethereum trust in the state of Delaware, a move similar to one the firm made when initially registering its Bitcoin (BTC) trust.
The shared documents have since been verified by senior Bloomberg ETF analyst Eric Balchunas. He confirmed that BlackRock has taken the first step towards filing for a spot Ether ETF. The move comes as the second-largest digital asset by market cap sees a bump in price. ETH is trading for $2,011 at time of writing, a 6.5% gain during the last 24 hours.
Early last month, the crypto markets rose as other investment firms such as VanEck, Bitwise, and ProShares launched Ethereum Futures exchange-traded funds (ETFs). This move signifies growing interest from institutional investors in cryptocurrencies.
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Hot Take
BlackRock’s registration of an Ethereum trust in Delaware marks a significant move in the world of crypto investments. With the surge of ETH over $2,000 and growing interest from institutional investors, this development could pave the way for further mainstream adoption and integration of cryptocurrencies into traditional investment portfolios.
