Leading asset manager BlackRock may have just confirmed its move for an Ether spot exchange-traded fund (ETF) by registering its Ethereum product, the iShare Ethereum Trust, in Delaware. A late Thursday report also showed that BlackRock submitted a 19b-4 filing with Nasdaq, almost confirming the asset manager is poised for an Ether ETF.
With its filing for a Bitcoin spot ETF still waiting for approval with the US Securities and Exchange Commission (SEC), BlackRock is looking to deepen its ties with cryptocurrencies by allowing investors to gain exposure to the second-largest digital currency in the world.
First Step in a Familiar Part?
BlackRock might have taken the first step in what is now a familiar part for the asset manager. Similarly, BlackRock took the same step earlier in the year while submitting for a Bitcoin spot ETF. BlackRock registered its Bitcoin trust a week before applying to the SEC for a spot ETF.
If BlackRock furthers on with the speculations, it would become the sixth company to apply for an Ether ETF. Investment firms VanEck, ARK Invest, Invesco, Grayscale, and Haskdex had earlier filed for the Ether product. However, BlackRock’s asset capacity means it remains the biggest name in contention for ETFs.
Ethereum Rallied Following Speculations
Following the news of a possible BlackRock ETF intention, Ethereum rallied over $2,000 for the first time since April. Ethereum beat Thursday’s choppy market, gaining over 10% when Bitcoin and other top cryptocurrencies struggled.
Ethereum remains far below its all-time high of $4,800. However, the possibility of BlackRock’s ETF filing and the upcoming Bitcoin halving could see the second-largest cryptocurrency surpass that feat in the coming months.
The post BlackRock Moves for Ether ETF With Delaware and Nasdaq Registration appeared first on Coinfomania.
