BlackRock Officially Files Spot Ethereum ETF With Nasdaq, ETH Exceeds $2,100 Mark

Key Points:

• BlackRock, one of the largest asset managers, has officially filed for a Spot Ethereum ETF with Nasdaq.
• The news of BlackRock’s application for a Spot Ethereum ETF has sparked speculation and contributed to a 12% increase in Ethereum’s value over the last 24 hours.

BlackRock has officially filed its Spot Ethereum ETF with Nasdaq, Ethereum surpasses $2,132, currently at $2,099 (+12% in 24 hours). BlackRock confident in Spot Bitcoin ETF approval by Jan 2024.

BlackRock, one of the world’s largest asset managers, has officially filed its Spot Ethereum ETF with Nasdaq. The company’s plan to launch the ETF was revealed in a filing with the U.S. exchange.

Similar to its pending Spot Bitcoin ETF, BlackRock’s Spot Ethereum ETF will require regulatory approval from the SEC. The introduction of Spot ETFs aims to provide broader access to cryptocurrencies for average investors, aligning with the growing mission of asset managers like BlackRock and Grayscale. However, the SEC has been actively opposing the launch of such ETFs.

Implications of Ethereum’s Breakthrough and BlackRock’s Application

With the registration of the iShares Ethereum Trust in Delaware, BlackRock has taken the next step in this direction. BlackRock is also confident that its Spot Bitcoin ETF application will be approved by the SEC by January 2024. However, the timeline for the review of the Spot Ethereum ETF remains uncertain.

The news of BlackRock’s application for a Spot Ethereum ETF has sparked speculation and may contribute to a potential increase in Ethereum’s value. At the time of writing, Ethereum has surpassed the $2,132 mark and is currently priced at $2,100, representing a significant increase of 12% over the last 24 hours.

Overall, BlackRock’s filing for a Spot Ethereum ETF signifies its continued efforts, along with other financial institutions, to bring cryptocurrency ETFs to the U.S. market. The approval and launch of such ETFs could open up new investment opportunities and further mainstream adoption of cryptocurrencies.

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