Earlier in the day, BlackRock registered its iShares Ethereum Trust in Delaware, the first hint that a filing for a spot Ether ETF was imminent. 18203 Total views 33 Total shares Listen to article 0:00 News Join us on social networksBlackrocks plans for a spot Ether (ETH) exchange-traded fund (ETF) have now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exchange Commission on Nov. 9.
Nasdaq filed the 19b-4 form with the securities regulator on behalf of the $9-trillion asset management firm for a proposed ETF called the iShares Ethereum Trust.
The move signals BlackRocks intention to expand beyond Bitcoin (BTC) with its ETF aspirations.Nasdaqs 19b-4 filing to the SEC for BlackRocks iShares Ethereum Trust. Source: Nasdaq
Earlier on Nov. 9, it emerged that BlackRockregistered the corporate entity iShares Ethereum Trust in Delaware, the first hint that a spot Ether ETF filing could be imminent.
UPDATE: BlackRock #Ethereum ETF confirmed. They just submitted a 19b-4 filing with Nasdaq pic.twitter.com/pLhuhhK7jo— James Seyffart (@JSeyff) November 9, 2023
BlackRock and other financial firms have expressed interest in cryptocurrency-backed ETFs over the last few months.
Bloomberg ETF analyst James Seyffart noted that there are at least five firms in the running to win the SECs approval for a spot Ether ETF.
Related: Ethereum futures ETFs garner lukewarm reception on first day of trading
Among them are VanEck, ARK 21Shares, Invesco, Grayscale and Hashdex.
There are 5 other live spot Eth filings that i'm aware of:@vaneck_us @ARKInvest/ @21Shares @hashdex @InvescoUS/ @galaxyhq
andddd @Grayscale's filing to convert $ETHE.
In no particular order.— James Seyffart (@JSeyff) November 9, 2023
ETHspiked 8.9% to $2,080 on the news that BlackRock was moving forward its plans for an iShares Ethereum Trust and is up 10.1% over the last 24 hours, according to CoinGecko.ETHs change in price over the last 24 hours. Source: CoinGecko
The price surge has helped ETH claw back some market dominance against BTC,which has outperformed ETH in recent months.
ETHs market dominance now sits at 17%, up 1.3% percentage points prior to the news.
Magazine: Bitcoin ETF: Wall Streets path to crypto# Ethereum # SEC # ETF # Adoption # Investment trusts # Regulation
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