It has been just revealed the fact that BlackRock continues making enormous moves in the crypto space these days. Check out the latest reports about the matter below.
BlackRock makes huge moves in the crypto space with ETH
BlackRock, an investment firm managing trillions of dollars in assets, is registering an Ethereum (ETH) trust in Delaware as the cryptocurrency’s value surges over $2,000.
The firm has filed documents to establish its iShares Ethereum trust in the state of Delaware, which is a similar move to when it registered its Bitcoin (BTC) trust. The news was shared on social media platform X.
“The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock’s iShares Bitcoin Trust was registered in a similar manner seven days before they filed the ETF application with the SEC.”
Senior Bloomberg ETF analyst Eric Balchunas has verified the shared documents. According to him, BlackRock has taken the first step towards filing a spot Ether ETF and he has confirmed it himself on the website.
This move coincides with a surge in Ether’s price, which is currently trading at $2,011, reflecting a 6.5% gain in the last 24 hours.
In the previous month, the crypto market witnessed a rise due to the launch of Ethereum Futures exchange-traded funds (ETFs) by investment firms like VanEck, Bitwise, and ProShares. Michael L. Sapir, the CEO of ProShares, had stated about the launch at that time.
“We have seen substantial demand from investors for access to the performance of cryptocurrencies through ETFs with the success of our Bitcoin-linked ETF, BITO, which was launched almost two years ago and has become the largest crypto-linked ETF in the world.”
The notes continued and said the following according to the latest reports coming from the online publication the Daily Hodl:
“Now, with the launch of [our ETH ETF], investors who want to target the performance of Bitcoin or Ether through an ETF, with all of the structure’s benefits, will not need to wait.”
