BlackRock has registered an Ethereum trust in Delaware, which may be an initial step toward establishing a spot Ether exchange-traded fund (ETF).
BlackRock registered its Bitcoin trust before submitting an application to the United States Securities and Exchange Commission for a Bitcoin ETF in June.
Registration of the entity occurred on November 9, per the directives of the state’s Division of Corporations. Daniel Schweiger is the registered agent at BlackRock in Wilmington, Delaware.
Schweiger holds the position of managing director at BlackRock, as stated on LinkedIn. iShares Ethereum Trust is the organization’s name; iShares is a BlackRock trademark.
Although yet to be approved, the SEC has received numerous applications for spot ETH ETFs; on September 27, the SEC postponed determinations regarding applications from ARK 21Shares and VanEck.
The due dates for these decisions are December 25 or 26. Shortly after, Invesco and Galaxy Digital submitted applications for spot ETH ETFs. In October, Grayscale submitted a proposal to convert its Grayscale Ethereum Trust into a spot ETF.
In addition, ARK Invest and 21Shares unveiled a new suite of digital asset exchange-traded funds (ETFs) on November 9 that will invest in long-term BTC and ETH futures contracts.
With approximately $9 trillion in assets under management, BlackRock is the world’s largest asset manager. Its spot, Bitcoin ETF, is among those the SEC is evaluating.
Due to the news, ETH has increased by 6.98% and continues to rise. The price has surpassed the psychologically significant threshold of $2,000, signifying its greatest level since April. This increase counteracts the recent sluggish performance of the coin.
