Ethereum ETF Race: BlackRock Wants An Ether Spot ETF
17 Novembro 2023 - 5:00PM
NEWSBTC
BlackRock has joined the Ethereum Spot ETF race as the asset
management company has officially applied to the US SEC and is
currently waiting for approval. BlackRock Files For An
Ethereum Spot ETF Following its Spot Bitcoin ETF filing, BlackRock,
an American investment company has taken the proactive step by
filing an Ethereum Spot Exchange Traded Fund (ETF) with the United
States Securities and Exchange Commission (SEC). The asset
management company submitted the application on November 15,
however, BlackRock has stated it formed the Trust as early as
November 9. Related Reading: Dogecoin On The Brink: Factors
That Indicate A DOGE Rally Is Just Starting According to BlackRock,
the iShares Ethereum Trust would be used to facilitate the
ownership of Ether through the issuance of shares, allowing
investors to own a fractional undivided beneficial interest in the
net assets of the Trust. “The Trust was formed as a Delaware
statutory trust on November 9, 2023. The purpose of the Trust is to
own ether transferred to the Trust in exchange for Shares issued by
the Trust. Each Share represents a fractional undivided beneficial
interest in the net assets of the Trust. The assets of the Trust
consist primarily of ether held by the Ether Custodian on behalf of
the Trust,” BlackRock said in its filing. Presently, the US
SEC has not approved any Ethereum Spot ETF filing as well as Spot
Bitcoin ETF applications. The regulatory body has delayed multiple
applications to be reviewed from January 2024. The crypto
community has remained enthusiastic that the regulatory agency
would eventually approve the pending ETF applications, as this
could significantly push the growth and development of the crypto
ecosystem as well as the cryptocurrencies involved. Ethereum
Price Surges The price of Ethereum is on the rise following
BlackRock’s Ethereum ETF filing. The cryptocurrency’s price climbed
almost 2% moving to $2,080 at some point following the announcement
of the filing. The sharp reaction has caused a stir in the
cryptocurrency community, as investors gear up for a potential bull
run if the US SEC gives its official authorization of Ethereum Spot
ETFs. Related Reading: Over 100 Million MATIC Incinerated In
POLS Mint, But The Gold Rush Is Far From Over The price of Bitcoin
has also been growing steadily as new companies apply for Spot
Bitcoin ETFs. Currently, Bitcoin’s price is trading at $36,408,
while ETH is down from its initial surge and trading at $1,952. The
crypto ecosystem is presently watching closely for more updates on
the US SEC’s ETF filing approvals and the price changes that follow
them. ETH price falls to $1,945 | Source: ETHUSD on Tradingview.com
Featured image from Bitcoin News, chart from Tradingview.com
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