Ethereum

Bitcoin

Spot

BlackRock

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-submits-updated-s-1-document-for-spot-ethereum-etfs/" data-wpel-link="internal">BlackRock Submits Updated S-1 Document for Spot Ethereum ETFs</a><br></p>
<p>Last Monday, the world focused on the cryptocurrency world. This was due to <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> about spot <a href="https://en.coin-turk.com/ethereum-market-analysis-optimism-returns-as-grayscales-bitcoin-sales-drop/" data-wpel-link="internal">Ethereum</a> ETFs. Following the news, Ethereum and Bitcoin prices surged, with ETH rising to nearly $4,000. On May 23, all eight applications were approved, causing market fluctuations. While it is unknown when trading will begin in the US, an important development occurred recently.</p> 
<h2 id="blackrock-s-etf-move">BlackRock’s ETF Move</h2> 
<p>Recently, BlackRock announced that it submitted an updated S-1 document for spot Ethereum ETFs. Despite the SEC’s initial approval, the updated S-1 document required for the next step gained significant attention.</p> 
<p>BlackRock, the world’s largest asset management company, demonstrated a pioneering stance and achieved significant volumes during the spot Bitcoin ETF period. This has led to growing views that the company could play a significant role in spot Ethereum ETFs as well.</p> 
<p>While BlackRock made this move, attention also turned to Ethereum’s price. Ethereum rose from $3,000 to nearly $4,000 last week and had fallen to $3,300 before approval.</p> 
<h2 id="1-ethereum-price">1 Ethereum Price</h2> 
<p>As of the time of writing, Ethereum is trading at $3,770 after a 2% drop in the last 24 hours. Additionally, almost all of ETH’s 7-day gains have been erased.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-357464" src="https://coin-turk.com/wp-content/uploads/2024/05/1ethereum-kac-dolar-coin-turk-com.png" alt="" width="2433" height="1145"></p> 
<p>Ethereum’s market cap fell to $452 billion after the decline. Furthermore, the 24-hour trading volume also dropped by 10% to $17 billion, indicating a significant loss of investor interest.</p> 
<p>It is believed that recent statements by US officials have played a significant role in this situation. A Fed official’s recent comments about <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> hikes caused panic in the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blackrock-submits-updated-s-1-document-for-spot-ethereum-etfs/" data-wpel-link="internal">BlackRock Submits Updated S-1 Document for Spot Ethereum ETFs</a></h5>

BlackRock Submits Updated S-1 Document for Spot Ethereum ETFs

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