Ethereum

Bitcoin ETF

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<div class="coinjournal">
 <ul>
  <li>BlackRock takes initial steps toward an Ethereum ETF.</li>
  <li>BlackRock’s move signals the growing institutional interest in cryptocurrency investments.</li>
  <li>The SEC’s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm.</li>
 </ul>
 <p>On Thursday, the website for Delaware’s Division of Corporations revealed the registration of an “iShares Ethereum Trust.” This move closely mirrors the steps taken by BlackRock in June when the company filed for a Bitcoin ETF, with a similar notice for the “iShares Bitcoin Trust.”&nbsp;</p>
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
  <p lang="en" dir="ltr">BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by @SummersThings https://t.co/mLKIhKdiI6</p>
  <p>— Eric Balchunas (@EricBalchunas) November 9, 2023</p>
 </blockquote>
 <p></p>
 <p>The iShares product, managed by BlackRock, holds a dominant position in the exchange-traded funds sector, boasting more than $2.3 trillion in assets under management. However, the company has not yet provided an official statement regarding its plans for an Ether ETF, leaving the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency community and investors eager to learn more about the development.</p>
 <h2 id="ethereum-s-price-surge">Ethereum’s price surge</h2>
 <p>In response to the news of BlackRock’s potential interest in launching an Ethereum ETF, the price of Ethereum (ETH) experienced a 7% increase, reaching a value of over $2,000.</p>
 <p>This surge is reminiscent of Bitcoin’s price movements when asset managers began pursuing ETF launches during the summer.</p>
 <h2 id="sec-s-stance-on-crypto-etfs">SEC’s stance on crypto ETFs</h2>
 <p>While BlackRock’s registration signals the increasing acceptance of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies within the financial industry, it is important to note that the U.S. Securities and Exchange Commission (SEC) has not yet approved a <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>.</p>
 <p>Historically, the SEC has maintained a cautious stance and opposed the creation of such funds. Notably, the SEC had previously blocked Grayscale’s attempts to convert its Bitcoin trust into an ETF. However, a court ruling in August overruled this decision.</p>
 <p>While the SEC did not appeal the court’s decision, it retains the authority to potentially halt Grayscale’s conversion or other Bitcoin ETF proposals for various reasons.</p>
 <p>In the event that the SEC does approve <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s, it is anticipated that Ether ETFs could follow suit, given that Ethereum is the second most popular <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency after Bitcoin.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-s-move-towards-ethereum-etf-spurs-crypto-market-surge-tbt69725.html">https://thebittimes.com/blackrock-s-move-towards-ethereum-etf-spurs-crypto-market-surge-tbt69725.html</a></p>

BlackRock’s move towards Ethereum ETF spurs crypto market surge

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