BlackRock giant has filed application for Ethereum spot ETF with Securities and Exchange Commission directly
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Chinese crypto blogger and journalist Colin Wu tweeted that the fund management giant BlackRock, with trillions of USD in assets under management, has submitted an application to the U.S. regulator SEC to launch a spot Ethereum exchange-traded fund.
The company made an S-1 filing on Nov. 15. Before that, a week ago, BlackRock filed the same application to the SEC through the Nasdaq exchange. Back then, the second largest cryptocurrency, ETH, responded by soaring above the $2,100 high.
BlackRock submitted an S-1 application for its spot Ethereum ETF to the SEC on November 15. An S-1 filing is a registration statement filed by a company with the SEC and is an important step in the listing process. Nasdaq previously submitted BlackRock’s proposed Ethereum spot…
— Wu Blockchain (@WuBlockchain) November 16, 2023
Now, on the news of BlackRock filing to the SEC directly, the price has also began to grow, printing a big green hourly candle on the ETH/USD chart. At the time of this writing, Ethereum is changing hands at $2,079.
Earlier this year, BlackRock also submitted a filing with the SEC to launch a spot Bitcoin ETF. The regulator is currently reviewing around a dozen spot Bitcoin ETF requests, and it has delayed the decision on three of them so far (BlackRock not among them).
Still, many experts believe that by early January 2024, the regulator will approve those BTC funds.
Despite the news of some Bitcoin ETF delays, the price of the world’s largest crypto, Bitcoin, soared to the $37,774 high on the Bitstamp exchange on Wednesday.
About the author
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.