BlackRock’s plans to create a spot Ethereum ETF have now been confirmed, according to a Form 19b-4 filing filed with the US Securities and Exchange Commission on November 9.
Submitted Nasdaq Form 19b-4 submitted to the securities regulator on behalf of the $9 trillion asset manager regarding a proposed ETF called the ‘iShares Ethereum Trust’.
The move signals BlackRock’s intention to expand beyond Bitcoin with its ETF ambitions.
Nasdaq filing (19b-4) with the SEC for BlackRock’s iShares Ethereum Trust. Source: NASDAQ
Earlier on November 9, it became clear that BlackRock Registered Entity ‘iShares Ethereum Trust’ in Delaware is the first sign that an Ethereum ETF filing may be imminent.
UPDATE: BlackRock #Ethereum ETF confirmed. They just submitted a 19b-4 filing with Nasdaq pic.twitter.com/pLhuhhK7jo
— James Seyffart (@JSeyff) November 9, 2023
BlackRock and other financial firms have expressed interest in cryptocurrency-backed ETFs over the past few months.
James Seyphart, an ETF analyst at Bloomberg, noted that there are at least five companies in the race to win SEC approval for an Ethereum spot ETF.
Related Articles: ‘ARK Invest’ and ’21Shares’ partner to launch a range of digital asset ETFs
Among these companies are VanEck, ARK 21Shares, Invesco, Grayscale, and Hashdex.
There are 5 other live spot Eth filings that i’m aware of:@vaneck_us @ARKInvest/ @21Shares @hashdex @InvescoUS/ @galaxyhq
andddd @Grayscale‘s filing to convert $ETH.In no particular order.
— James Seyffart (@JSeyff) November 9, 2023
Ethereum rose (ETH) rose by 8.9% to reach $2080 after news reported that BlackRock is moving forward with its plans to create an ‘iShares Ethereum Trust’ fund, while it rose by 10.1% during the past 24 hours, According to CoinGecko.
Ethereum price movement over the past 24 hours. Source: CoinGecko
The price rise helped Ethereum regain some market dominance against Bitcoin (BTC)، Which in turn has outperformed Ethereum in recent months.
Note that Ethereum’s market dominance now stands at 17%, an increase of 1.3% from before the news.
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Translated by Albayan Gherra
The stone of the statement took him away
2023-11-10 06:00:28
#BlackRock #Ethereum #ETF #Plan #Confirmed #Nasdaq #Filing
