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November 9, 2023

BlackRock Registers iShares Ethereum Trust, Signals Intent for Ether ETF

Leticia "Letty" Santos
Written byLeticia "Letty" SantosWriter
Researched byNikos PapadopoulosResearcher

BlackRock, an investment firm managing trillions of dollars worth of assets, has registered its iShares Ethereum trust in Delaware. This move follows a similar registration process for its Bitcoin trust. The registration documents have been verified by senior Bloomberg ETF analyst Eric Balchunas.

BlackRock Registers iShares Ethereum Trust, Signals Intent for Ether ETF

The registration of the iShares Ethereum trust indicates that BlackRock is taking the first step towards filing for a spot Ether ETF. This development comes as Ethereum, the second-largest digital asset by market cap, experiences a surge in price. At the time of writing, ETH is trading at $2,011, reflecting a 6.5% gain in the last 24 hours.

In recent weeks, other investment firms such as VanEck, Bitwise, and ProShares have launched Ethereum Futures exchange-traded funds (ETFs). ProShares' chief executive, Michael L. Sapir, highlighted the demand from investors for access to the performance of cryptocurrencies through ETFs. With the launch of their ETH ETF, investors can now target the performance of Bitcoin or Ether through an ETF without having to wait.

In conclusion, BlackRock's registration of the iShares Ethereum trust in Delaware signals its intention to file for a spot Ether ETF. This move aligns with the growing demand from investors for cryptocurrency exposure through ETFs. As Ethereum continues to gain momentum, investors now have more options to access its performance through investment vehicles like ETFs.

About the author
Leticia "Letty" Santos
Leticia "Letty" Santos
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Letty Santos, a vibrant spirit from the heart of Manila, seamlessly merges her passion for Filipino culture with the exhilarating world of online casinos. Bringing a unique Filipino touch to every project, she's a gem in the casino localization realm.

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