Blackrock’s Potential Spot Ether ETF
Blackrock, the world’s largest asset manager, has taken steps to officially register its Ishares Ethereum Trust with Delaware’s Division of Corporations. The trust was recorded on November 9, 2023, and identifies Blackrock Advisors as the filing party. Bloomberg ETF analyst James Seyffart confirmed the authenticity of the filing on social media.
Speculation is mounting that Blackrock may be preparing to launch a spot ether ETF, following its submission for a spot bitcoin ETF in June 2023. The firm is currently awaiting regulatory approval for the bitcoin ETF. This news has coincided with a more than 5% increase in ethereum’s value over the last 24 hours, temporarily surpassing $2,000 per unit.
What’s Next for Blackrock?
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The surge in ethereum’s value following the news has sparked interest in Blackrock’s potential move with the Ishares ETH trust. Only time will tell if Blackrock will pursue an Ethereum ETF after its recent filings and the impact of this news on cryptocurrency markets.
Hot Take: Is Blackrock Preparing to Enter the Crypto Market?
With its recent registration of the Ishares Ethereum Trust and speculation about a potential spot ether ETF, it seems that Blackrock may be making significant moves into the cryptocurrency market. Keep an eye on their next steps and how they could impact the industry as a whole.
