Close this search box.

BlackRock Officially Files for a Spot Ethereum ETF



Table of Contents

  • The $9 trillion asset manager, BlackRock, has taken a big step towards crypto with an official SEC filing for a spot-based Ethereum ETF.
  • News of BlackRock’s move already impacts the market, with positive indicators and a notable 9% surge in Ethereum’s price within the last 24 hours.
  • Speculation arises around the SEC’s potential response to BlackRock’s Ether ETF filing, considering the regulator’s past stance on Spot Bitcoin ETFs.

BlackRock, the asset management giant with over $9 trillion in assets has taken another big step towards crypto. On November 9, the firm’s iShares division submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) linked to Ethereum (ETH), the second-largest cryptocurrency globally.


The Filing Process

BlackRock’s iShares had previously registered the iShares Ethereum Trust as a Delaware corporation, signaling its intent. Now, with the official SEC filing, the regulatory process begins, as the SEC reviews the proposed rule change for listing the ETF on the Nasdaq exchange.

How Will the SEC Respond?

Speculations abound in the crypto community regarding the SEC’s response. Some foresee the SEC maintaining its stance against Spot Bitcoin ETFs, potentially impacting BlackRock’s Ether Spot ETF filing. The approval of the latter could introduce a paradox, contradicting past decisions on Spot Bitcoin ETFs.

Market Reaction and Altcoin Rally

Despite uncertainties, market indicators suggest a positive sentiment within the crypto community. BlackRock’s Ethereum Spot ETF confirmation has led to a surge in market metrics, hinting at a potential rally for altcoins. Notably, the price of ETH surged by 9% within the last 24 hours, currently trading at $2091, reflecting a 17% increase in the past seven days and a market cap of $251 billion.

Unleash the potential of leverage trading! Join Bybit today with our link, complete KYC, and earn up to a $40 bonus on a $100 deposit. Don’t miss out on this exclusive offer; claim your bonus now!


BlackRock’s Broader Crypto Strategy

This move by BlackRock is not isolated. The asset manager’s recent filing follows its plans to launch a similar product for Bitcoin. Confidence is reportedly high, with expectations of approval for the spot Bitcoin ETF early next year. What sets the Ether ETF filing apart is its implication. It suggests BlackRock’s broader interest in the entire crypto asset industry, extending beyond Bitcoin.

Institutional Confidence and Market Impact

BlackRock CEO Larry Fink, in a recent interview, characterized the surge in crypto prices as a flight to quality. The Ether ETF filing aligns with this sentiment, reinforcing the growing evidence that institutional demand for crypto assets is indeed on the rise. This statement shows how the institutional confidence has been on the rise.

Final Takeaway

BlackRock’ again stepping into the crypto space with the filing of a Spot Ethereum ETF is a big move. The potential approval and subsequent listing on Nasdaq could reshape the landscape of crypto investment products. As the SEC reviews BlackRock’s application, the crypto community awaits with bated breath, anticipating the regulator’s decision. Approval of this decision will mean big things for the crypto market.


Enhance Your Crypto Trading Skills With Our Legends’ Trading Masterclass

Empower your crypto trading skills with our Legends Masterclass. Sign up now and take advantage of our limited-time discount offer! Join the class today.



Related Post

Comments are closed.

Buy / Sell Bitcoin

Rating: 89%

Claim up to $8,800 in Bonus


Rating: 85%

World’s largest crypto exchange

Our Favourite Trading Platforms


Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage


Rating: 91%

Claim up to $7,000 in Bonus

100x Leverage

Follow Us