Key takeaways
- Blackrock may be working on an Ether ETF, according to a document filed in Delaware.
- The price of ether rose about 7% on the news, before paring some of those gains.
- Blackrock filed a similar filing for iShares Bitcoin Trust before filing an application for a spot Bitcoin ETF with the SEC.
- The potential approval of a spot Bitcoin ETF in the US has been a major area of โโfocus for the cryptocurrency market since Blackrock filed in June.
Crypto market watchers wonder if spot Ether exchange-traded fund (ETF) could be in Blackrock process (BLACK), which filed for a corporation called "iShares Ethereum Trust" in Delaware. The price of ether (ETH/USD) soared about 7% before paring some of those gains.
Blackrock made a similar move with iShares Bitcoin Trust about a week before filing for a Spot bitcoin ETF with the US Securities and Exchange Commission (SEC).
The possibility of a spot bitcoin ETF receiving SEC approval has been all the talk in the crypto industry since Blackrock originally. presented for your offer in June of this year. Bitcoin (BTC/USD) the price has risen more than 40% since the application was submitted. Analysts at Bloomberg, JPMorgan Chase and elsewhere see approval of at least one spot bitcoin ETF by January next year as very likely.
Several Ether ETFs based on futures were already launched about a month ago, but already failed to gain much traction. At this time, it is unclear whether Blackrock's potential Ether ETF would be based on futures or spot offerings. It is believed that an Ether spot ETF would have major implications for the crypto asset in terms of placing it on a similar regulatory footing as bitcoin in the eyes of the SEC.
