BlackRock has apparently registered an Ethereum trust in the US state of Delaware, possibly a first step towards a spot Ether (ETH) exchange-traded fund (ETF).
BlackRock registered its Bitcoin (btc) confidence in June, shortly before presenting with the United States Securities and Exchange Commission for a Bitcoin ETF.
BlackRock has taken the first step to apply for an Ether spot ETF. I just confirmed it myself on the website. Good catch by @SummersThings https://t.co/mLKIhKdiI6
- Eric Balchunas (@EricBalchunas) November 9, 2023
The entity has been registered by the state Division of Corporations with a incorporation date of November 9. The registered agent is Daniel Schweiger at BlackRock's Wilmington, DE address. According LinkedInSchweiger is CEO of BlackRock. The entity is called iShares Ethereum Trust; iShares is a brand of BlackRock.
Related: The SEC's first window to approve the 12 Bitcoin spot ETFs will begin today
There have been several previous SEC applications for spot ETH ETFs, although none have been approved yet. The second Delayed decisions on ARK 21Shares and VanEck applications on September 27. Those decisions are due December 25 or 26. Invesco and Galaxy Digital Applied for ETH Spot ETF shortly after. Grayscale applied to cloak its Grayscale Ethereum Trust to a spot ETF in October.
Also on November 9, ARK Invest and 21Shares announced the launch of a new suite of digital asset ETFs that will invest in long-term BTC and ETH futures contracts.
BlackRock is the world's largest asset manager with around $9 trillion in assets under management. Its BTC spot ETF is among those currently being considered by the SEC.
ETH is up 6.98% following the news and continues to rise. It has crossed the psychologically significant $2,000 mark, reaching its highest price since April. this impulse counters recent currency sluggishness performance.
BlackRock declined to comment in response to Cointelegraph's queries.
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