Featured image from Bitcoin News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
BlackRock has joined the Ethereum Spot ETF race as the asset management company has officially applied to the US SEC and is currently waiting for approval.\u00a0 BlackRock Files For An Ethereum Spot ETF Following its Spot Bitcoin ETF filing, BlackRock, an American investment company has taken the proactive step by filing an Ethereum Spot Exchange Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC).\u00a0 The asset management company submitted the application on November 15, however, BlackRock has stated it formed the Trust as early as November 9.\u00a0 Related Reading: Dogecoin On The Brink: Factors That Indicate A DOGE Rally Is Just Starting According to BlackRock, the iShares Ethereum Trust would be used to facilitate the ownership of Ether through the issuance of shares, allowing investors to own a fractional undivided beneficial interest in the net assets of the Trust. \u201cThe Trust was formed as a Delaware statutory trust on November 9, 2023. The purpose of the Trust is to own ether transferred to the Trust in exchange for Shares issued by the Trust. Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of ether held by the Ether Custodian on behalf of the Trust,\u201d BlackRock said in its filing.\u00a0 Presently, the US SEC has not approved any Ethereum Spot ETF filing as well as Spot Bitcoin ETF applications. The regulatory body has delayed multiple applications to be reviewed from January 2024.\u00a0 The crypto community has remained enthusiastic that the regulatory agency would eventually approve the pending ETF applications, as this could significantly push the growth and development of the crypto ecosystem as well as the cryptocurrencies involved.\u00a0 Ethereum Price Surges The price of Ethereum is on the rise following BlackRock\u2019s Ethereum ETF filing. The cryptocurrency\u2019s price climbed almost 2% moving to $2,080 at some point following the announcement of the filing. The sharp reaction has caused a stir in the cryptocurrency community, as investors gear up for a potential bull run if the US SEC gives its official authorization of Ethereum Spot ETFs.\u00a0 Related Reading: Over 100 Million MATIC Incinerated In POLS Mint, But The Gold Rush Is Far From Over The price of Bitcoin has also been growing steadily as new companies apply for Spot Bitcoin ETFs. Currently, Bitcoin\u2019s price is trading at $36,408, while ETH is down from its initial surge and trading at $1,952. The crypto ecosystem is presently watching closely for more updates on the US SEC\u2019s ETF filing approvals and the price changes that follow them. ETH price falls to $1,945 | Source: ETHUSD on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":561242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[7720,89215,1944,89193,89155,89213,16163,1946,10384,7931,6931,89930,8686,78803],"class_list":["post-561241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-blackrock","tag-blackrock-news","tag-etf","tag-etf-news","tag-eth-etf","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-etf","tag-ethereum-news","tag-ethereum-price","tag-ethereum-spot-etf","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum ETF Race: BlackRock Wants An Ether Spot ETF<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n