BlackRock, the largest global asset manager, has officially submitted a filing to the United States Securities and Exchange Commission (SEC).
BlackRock, the largest global asset manager, has officially submitted a filing to the United States Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on Ethereum. The proposed ETF, known as iShares Ethereum Trust, seeks to mirror the performance of Ethereum's price, as stated in the Form S-1 filed by iShares, a brand associated with BlackRock's ETF products.
This recent filing follows BlackRock's registration of the entity iShares Ethereum Trust with the Delaware Department of State Division of Corporations. Furthermore, Nasdaq's filing for the ETF confirms BlackRock's participation in a spot Ether ETF.
Coinbase Custody Trust Company has been selected as the custodian for BlackRock's proposed spot Ether ETF, aligning with the custodian choice for its planned spot Bitcoin ETF. The ETF will utilize the CME CF Bitcoin Reference Rate from CF Benchmarks, a Kraken subsidiary, as its benchmark.
The announcement of this news led to a nearly 2% increase in the price of Ether (ETH), reaching approximately $2,080.
In a previous filing, BlackRock submitted an application for the iShares Bitcoin spot ETF in June, and the SEC's decision is still pending.
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