Blackrock’s plans for a spot ethereum exchange-traded fund (ETF) have now been confirmed, according to a Form 19b-4 filed with the US Securities and Exchange Commission on November 9.
Nasdaq archived Form 19b-4 to the securities regulator on behalf of the $9 trillion asset management company for a proposed ETF called “iShares ethereum Trust.”
The move signals BlackRock’s intention to expand beyond bitcoin with its ETF aspirations.
Earlier on November 9, it emerged that BlackRock registered the iShares ethereum Trust corporate entity in Delaware, the first indication that a timely filing of an ethereum ETF could be imminent.
UPDATE: BlackRock ethereum?src=hash&ref_src=twsrc%5Etfw”>#ethereum ETF confirmed. They just filed a 19b-4 filing with Nasdaq. pic.twitter.com/pLhuhhK7jo
-James Seyffart (@JSeyff) November 9, 2023
BlackRock and other financial firms have expressed interest in cryptocurrency-backed ETFs in recent months.
Bloomberg ETF analyst James Seyffart noted that there are at least five companies in the race to get Securities and Exchange Commission approval for an ethereum spot ETF.
Related: ethereum futures ETFs get lukewarm reception on first day of trading
These include VanEck, ARK 21Shares, Invesco, Grayscale and Hashdex.
There are five other live eth performances that I know of:@vaneck_us @ARKInvest/ @21Share @hashdex @InvescoUS/ @galaxyhq
ydddd @Grayscalepresentation to convert $eth.In no particular order.
-James Seyffart (@JSeyff) November 9, 2023
Ether (eth) soared 8.9% to $2,080 on news that BlackRock is advancing its plans for an iShares ethereum Trust and is up 10.1% in the past 24 hours. ethereum” target=”_blank” rel=”noopener nofollow”>according to CoinGecko.
The price surge has helped eth regain some market dominance against bitcoin (btc), which has outperformed eth in recent months.
eth market dominance now stands at 17%, up from 1.3% before the news.
Magazine: bitcoin ETFs: Wall Street’s path to cryptocurrencies
