BlackRock and NASDAQ Lobbies SEC to Allow Spot ETH ETFs
BlackRock, the world’s largest asset manager, is seeking approval from the SEC to launch an Ethereum exchange-traded fund (ETF) tied to the spot price of Ethereum. This move represents a major win for U.S. investors in the crypto asset space. The iShares Ethereum Trust would allow regular investors to trade Ether as easily as stocks can be traded.
If approved, this ETF would significantly boost interest and confidence in Ethereum, ultimately driving the asset to new highs. The hype leading up to the approval may also push the asset to a new yearly high.
Potential Impact on Ethereum Price if the ETF is Approved
Ethereum has seen a surge of more than 60% this year and has outperformed Bitcoin in recent days. It is currently trading at $2,060 and analysts believe a bullish cross over $2,150 would signal the end of the bear market for ETH.
Hot Take
BlackRock’s proposal for an Ethereum exchange-traded fund (ETF) represents a significant development in the crypto space. If approved, it could provide U.S. investors with a regulated way to gain exposure to Ethereum investments while boosting confidence in the cryptocurrency. This move could have far-reaching implications for both Ethereum and the broader crypto market.
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