BlackRock has seemingly registered an Ethereum Trust in Delaware, spurring speculation of an SEC application for a spot ETH ETF.
Asset management titan BlackRock has taken a major step toward offering an Ethereum ETF.
According to a filing dated Thursday, Nov. 9, 2023, BlackRock Advisors registered an entity called iShares Ethereum Trust in Delaware. The registered agent listed is Daniel Schwieger, who appears to be a managing director at BlackRock based on his LinkedIn profile.
Already rallying along with the broader crypto market, the price of Ethereum pumped even higher on news of the trust registration. ETH climbed around 7% to over $2,000, hitting its highest level since April.
“BlackRock has made first step towards filing for a spot Ether ETF,“ said Eric Balchunas, senior ETF analyst at Bloomberg.
While the SEC has yet to greenlight a spot Bitcoin ETF despite numerous filings, optimism remains high that 2023 could see the launch of the first spot crypto ETFs in the US. If regulators sign off, the floodgates could open to billions in institutional capital entering the digital asset market.
BlackRock declined to comment directly on the filing.
