Uncover the latest groundbreaking development in the cryptocurrency market as BlackRock steps forward with an application for a physical Ethereum ETF, "iShares Ethereum Trust".
With ETH prices hitting new highs and NASDAQ playing a crucial role, this article dives into the potential impact on the future of digital currency investment.
Stay ahead in the crypto sphere with this insightful read.
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BlackRock's Move Towards a Physical Ethereum ETF - A Glimpse into the Future?
Managing approximately $9 trillion in assets, BlackRock, the world's largest asset management company, might be preparing to offer a physical Ethereum ETF (Exchange Traded Fund).
This became evident following the appearance of an application for the "iShares Ethereum Trust" on the Delaware state website in the United States on November 9, 2023.
The move has generated significant buzz in the cryptocurrency industry.
Previously, BlackRock had registered the "iShares Bitcoin Trust" in Delaware seven days before applying for a physical Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).
This pattern has led to speculation that a similar approach might be taken for the physical Ethereum ETF application, drawing considerable attention.
Ethereum Price Soars Above $2,000 Amid ETF Speculations
As the cryptocurrency industry eagerly anticipates the approval of a physical Bitcoin ETF, the application for a physical Ethereum ETF could mean that, following the approval of the Bitcoin ETF, an Ethereum ETF might also be approved.
This speculation has brought increased focus to this latest registration.
Following the report, the price of Ethereum (ETH) surged, breaking the $2,000 mark around 3 PM on November 9, 2023.
NASDAQ Submits Application for Listing BlackRock's Ethereum ETF
Just hours after BlackRock's "iShares Ethereum Trust" was listed on the Delaware state website, NASDAQ, a leading securities exchange, submitted the application documents for the listing of BlackRock's physical Ethereum ETF.
According to the submitted documents, BlackRock’s physical Ethereum ETF will have "Coinbase Custody Trust Company" handling the custody of ETH, and it plans to use the "CME CF Ether-Dollar Reference Rate," an index provided by CME.
While no physical Bitcoin ETF or Ethereum ETF has yet been approved in the United States, many experts in the cryptocurrency industry predict that approval could be imminent, making the future developments in this area highly anticipated.
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Is BlackRock's Bitcoin Physical ETF Approval and Listing Imminent? Spotted on DTCC List
Is BlackRock's Bitcoin Physical ETF on the verge of approval? The ETF has been listed on DTCC, a key institution in the U.S. securities market. Discover what this could mean for Bitcoin and the ETF landscape.
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