BlackRock Files For Ethereum ETF
BlackRock, the world’s largest asset manager, has filed a registration form S-1 for a spot Ethereum ETF with the U.S. Securities and Exchange Commission (SEC). The Trust “seeks to reflect generally the performance of the price of ether,” with crypto exchange Coinbase serving as the custodian for its crypto holdings. This filing follows BlackRock’s application for a spot Bitcoin ETF in June 2023, which set off a crypto market rally that propelled Bitcoin to its current price of almost $38,000. At time of publication, Ethereum’s price stands at $2,069, up 2.7% on the day. This is a developing story and will be updated shortly.
This is good news for the crypto industry, as BlackRock’s entry into the space indicates that the asset manager considers the industry to be a legitimate investment opportunity. By filing for an Ethereum ETF, investors will be offered an opportunity to invest in Ethereum without having to purchase the underlying asset. #crypto #BlackRock #EthereumETF #SEC
You can read more about this topic here: Decrypt: BlackRock Files for Spot Ethereum ETF with SEC