US Markets
Thursday, November 9th, 2023 6:50 pm EDT
Key Points
- BlackRock, a major asset management company, has taken initial steps toward launching an Ethereum ETF, as indicated by the registration of an iShares Ethereum Trust with Delaware’s Division of Corporations. This development has contributed to a significant rally in the price of ether, which surged 7% and surpassed $2,000 for the first time since April.
- BlackRock’s iShares product is a leading player in the exchange-traded fund (ETF) industry, managing over $2.3 trillion in assets. While BlackRock has taken these initial steps, the company has not commented on the matter.
- The U.S. Securities and Exchange Commission (SEC) has not yet approved a Bitcoin ETF, despite numerous applications. It remains to be seen how the SEC will respond to the potential approval of Bitcoin ETFs and how this may impact the approval of Ethereum ETFs, as ether is the second most popular cryptocurrency after Bitcoin.
BlackRock, a major asset management firm, has taken initial steps toward the creation of an Ethereum ETF (exchange-traded fund). The registration of an iShares Ethereum Trust with Delaware’s Division of Corporations on Thursday has fueled a surge in the price of ether, which increased by 7% and surpassed $2,000 for the first time since April. This move follows BlackRock’s filing for a Bitcoin ETF in June, signaling the company’s interest in expanding its cryptocurrency offerings. However, it’s important to note that the U.S. Securities and Exchange Commission (SEC) has not yet approved a Bitcoin ETF, and it could potentially have implications for Ethereum ETFs in the future, as ether is the second most popular cryptocurrency after Bitcoin.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/09/blackrock-appears-to-take-first-steps-toward-an-ether-etf.html
