Ethereum

Bitcoin ETF

Request

<p>Exactly one week ago, financial giant BlackRock submitted a filing for the iShares Ethereum Trust, the proposed spot ETF on ether (ETH). The news had caught the attention of crypto analysts as it suggested the upcoming filing of an Ethereum ETF with the SEC. It has now been done.</p>
<h2 id="h-an-ethereum-etf-application-now-on-the-sec-agenda">An Ethereum ETF Application Now on the SEC Agenda</h2>
<p>Asset manager BlackRock has officially submitted a filing for a spot Ethereum ETF with the SEC. The news, which broke this Thursday, November 16th, is unsurprising as it is the logical follow-up to the requested registration a few days ago for the iShares Ethereum Trust.</p>
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<p>But <a href="https://www.theblock.co/post/263299/blackrock-ethereum-etf-sec" target="_blank" rel="noopener noreferrer nofollow">this new development</a> is not without significance for the crypto ecosystem. It is even notably meaningful for this industry which, despite its challenges, is experiencing sustained expansion.</p>
<p>It essentially confirms the enthusiasm of institutional investors like BlackRock. Moreover, it is not the first or only asset manager to have submitted a request for a spot Ethereum ETF with the SEC.</p>
<p>The iShares Ethereum Trust, the Ethereum ETF for which BlackRock is now applying, aims to track the performance of ether (ETH). This is indicated by the S-1 form of the application filing.</p>
<h2 id="h-direct-consequences-on-the-valuation-of-eth">Direct Consequences on the Valuation of ETH</h2>
<p>It is worth noting that the news of BlackRock’s filing for a spot Ethereum ETF has not left the crypto market indifferent. Naturally, the valuation of ether, Ethereum’s native crypto, has slightly jumped.</p>
<p>The price of the asset increased by 1.19% to trade around $2,069. This positive market reaction underscores the impact that institutional involvement can have on the crypto landscape. Especially when a financial behemoth like BlackRock ventures into it.</p>
<p>Indeed, BlackRock is now awaiting the SEC’s approval of a similar request for bitcoin. While the SEC has announced the postponement of its decision until 2024, it is interesting to note how eager financial firms are becoming.</p>
<p>Recently, companies such as Jane Street, Virtu Financial, and Jump Trading are reportedly engaged in discussions to provide liquidity for the Bitcoin ETF requested by BlackRock. All that remains is the obtaining of the famous authorization, the timing of which is now unclear as the SEC keeps the uncertainty alive on the matter.</p>

ETF Ethereum Spot: BlackRock Officializes its Request

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