Ethereum

Millions

Bitcoin

<div class="sg-post-des"> BlackRock has previously also filed for a Bitcoin ETF, for which the SEC approval window is currently open until Nov. 17.
</div><div class="cointelegraph">The world’s largest asset manager filed for a spot Ether (ETH) exchange-traded fund (ETF) on Nov. 9, four months after filing for a spot Bitcoin ETF. BlackRock’s filing helped ETH <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/price.html">price</a>s soar past $2,000 for the first time in over a year.BlackRock’s intention to file for an Ethereum spot ETF had a bullish effect on the crypto market, helping ETH to get past the critical resistance of $2,000 for the first time in six months.<figure><img src="https://cdn.thebittimes.com/images/2023/11/10/41a2e7fb28627816c9d50e390aa691bf.webp"><figcaption>ETH price chart. Source: TradingView</figcaption></figure>Apart from ETH, other altcoins also saw significant gains before a flash crash, with nearly $1 billion in open interest being wiped out of the market within an hour. Millions in long and short positions were liquidated due to the sudden <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/price.html">price</a> fluctuations.BlacRock’s ETH ETF filing was confirmed after their 19b-4 filing with Nasdaq became public. Nasdaq filed the 19b-4 form on behalf of the world’s asset manager to the SEC for a proposed ETF called the "iShares Ethereum Trust." The move signals the asset manager’s intention to expand beyond Bitcoin with its ETF aspirations, invoking various reactions from the crypto <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/community.html">community</a>.Related: Ethereum futures ETFs garner lukewarm reception on first day of tradingBitcoin proponent Udi Wertheimer reacted to the news, saying, “There is a second best,” referring to the popular meme of MicroStrategy CEO Michale Saylor, who believes that Bitcoin is the only true asset and there is no second best.<blockquote class="twitter-tweet">BREAKING: BLACKROCK: THERE IS A SECOND BEST pic.twitter.com/SEtoTADf0h— Udi Wertheimer (@udiWertheimer) November 9, 2023 </blockquote>Other crypto proponents rejoiced in growing institutional interest beyond Bitcoin. Raoul Pal said an ETH ETF is the “holy grail for asset managers as they can capture the yield and only give <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/price.html">price</a> performance to the ETF holders.”Others pointed out that BlackRock’s ETH ETF interest suggests that its spot Bitcoin ETF is a done deal.<blockquote class="twitter-tweet">ETH ETF filling seems to suggest BTC ETF is a done deal. (Bottom of page 12 onward) pic.twitter.com/Jymn3ltzie— Wise (@wise_eth) November 9, 2023 </blockquote>Sassal, an independent Ethereum educator, drew attention to the impact of the ETF on ETH yields, claiming traders are going to “absolutely salivate over the real yield that a staked spot ETH ETF can offer.”Magazine: Bitcoin ETF: Wall Street’s Path to Crypto</div>Source: <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/blackrock-eth-etf-helps-price-past-2k-community-sees-btc-etf-as-done-deal-tbt69804.html">https://thebittimes.com/blackrock-eth-etf-helps-price-past-2k-community-sees-btc-etf-as-done-deal-tbt69804.html</a>

BlackRock ETH ETF helps price past $2k; community sees BTC ETF as 'done deal'

TheBitTimes

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