BlackRock, the world’s largest asset manager, has filed a form S-1 registration for a spot Ethereum ETF with the U.S. Securities and Exchange Commission (SEC).
In the filing, the asset manager notes that the Trust “seeks to reflect generally the performance of the price of ether” with crypto exchange Coinbase serving as the custodian for its crypto holdings.
Earlier this month, BlackRock outlined its proposal for the Ethereum ETF in a filing with the Nasdaq stock exchange, and registered a trust for Ethereum in Delaware.
BlackRock’s Ethereum ETF filing follows the asset manager’s application for a spot Bitcoin ETF in June 2023, a move that rocked the crypto and TradFi worlds and kicked off a crypto market rally that propelled Bitcoin to its current price of almost $38,000.
At time of publication, Ethereum’s price stands at $2,069, up 2.7% on the day.
This is a developing story and will be updated shortly.
Stay on top of crypto news, get daily updates in your inbox.
Source: https://decrypt.co/206328/blackrock-files-for-spot-ethereum-etf-with-sec
