Ethereum

Bitcoin ETF

BlackRock

<p>As the cryptocurrency market continues to boom, major asset managers are taking a closer look and capitalizing on the situation. Asset management giant BlackRock stands out by launching an Ethereum ETF.</p> 
<h2 id="h-imminent-launch-of-blackrock-s-ethereum-etf">Imminent Launch of BlackRock’s Ethereum ETF?</h2> 
<p>After receiving regulatory approval for its Bitcoin ETF earlier this year, <a href="https://www.cointribune.com/en/bitcoin-blackrocks-etf-exceeds-expectations-with-18-billion-in-assets/" target="_blank" rel="noreferrer noopener">BlackRock</a> is now preparing to launch its Ethereum ETF. The <a href="https://capedge.com/filing/2000638/0001437749-24-018610/diff/0001437749-23-032233" target="_blank" rel="noreferrer noopener">filing</a> with the SEC reveals that the manager has already invested $10 million in the initial purchase of Ether.</p>
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<p>This <strong>initial investment of 400,000 shares</strong> at $25 each sets the net asset value of the Ethereum ETF at $10 million. The fund will trade under the ticker ETHA, with&nbsp;:</p> 
<ul> 
 <li>the Bank of New York Mellon as the trustee custodian,</li> 
 <li><a href="https://www.cointribune.com/en/crypto-is-coinbase-about-to-surpass-binance/" target="_blank" rel="noreferrer noopener">Coinbase</a> holding the underlying Ether.</li> 
</ul> 
<p>Bloomberg analyst Eric Balchunas estimates that the launch could <strong>take place as early as the end of June</strong>. He bases this on the update of the S-1 filing submitted by BlackRock.</p> 
<h2 id="h-the-phenomenal-success-of-blackrock-s-bitcoin-etf">The Phenomenal Success of BlackRock’s Bitcoin ETF</h2> 
<p>This upcoming launch of the Ethereum ETF follows the success of BlackRock’s Bitcoin ETF. After only a few months of trading, this exchange-traded fund has reached <strong>nearly $20 billion in assets under management</strong>. It has become <a href="https://www.cointribune.com/en/bitcoin-etf-record-305m-inflows-blackrocks-bit-leads/" target="_blank" rel="noreferrer noopener">the largest Bitcoin fund</a> in the world.</p> 
<p>Since its launch in January, BlackRock’s Bitcoin ETF has accumulated over $16 billion in net inflows. Major state pension funds have also invested in this product—a situation that highlights institutional interest in cryptocurrencies!</p> 
<p>The <strong>success of BlackRock’s ETFs</strong> and the <a href="https://www.cointribune.com/en/crypto-ethereum-etfs-approved-by-the-sec/" target="_blank" rel="noreferrer noopener">recent approval</a> by the SEC of multiple Ethereum ETFs illustrate the gradual adoption of cryptocurrencies by traditional finance. This trend is expected to continue as institutional investors and regulators’ confidence strengthens.</p> 
<p>More and more asset managers are looking to offer their clients exposure to <a href="https://www.cointribune.com/crypto-un-nouveau-projet-de-loi-sur-les-actifs-numeriques-aux-etats-unis/" target="_blank" rel="noreferrer noopener">digital assets</a> such as Bitcoin and Ethereum ETFs. With its flagship products, BlackRock is positioning itself as a leader in this emerging asset class.</p>

BlackRock buys $10 million of Ethereum to launch its ETF

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