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BlackRock has taken the initial step to file for an Ether spot ETF, most recently with the iShares ethereum Trust. registered in delaware.
This move is reminiscent of BlackRock’s iShares bitcoin Trust, which similarly registered seven days before the ETF application was filed with the US Securities and Exchange Commission (SEC).
Against the backdrop of an industry abuzz with anticipation for the approval of a bitcoin spot ETF, BlackRock’s move potentially signals a pivotal moment for ethereum, shedding light on its status as a potential asset class in institutional investment portfolios.
Despite the positive signs, it is important to remember the precedent set by the SEC’s handling of bitcoin ETFs. As reported by cryptoslate As of October 2023 Source, despite rumors to the contrary, the SEC had not approved the iShares bitcoin ETF. The regulator had delayed its verdict on several proposed rule changes, which included applications from leading companies such as Fidelity (Wise Origin), VanEck, WisdomTree and Invesco.
In light of this, the registration of BlackRock’s iShares ethereum Trust, while a significant development, takes us into territory of considerable uncertainty. The SEC’s previous hesitancy to approve bitcoin ETFs could cast a long shadow over BlackRock’s fledgling ethereum trust, potentially heralding a new cycle of applications, approvals, delays and rejections.
As the crypto community watches these developments with bated breath, two things have been game-changers for the industry: Grayscale’s court victory and BlackRock’s entry into the market. ethereum ETFs, in this context, may be the next frontier. For now, however, all eyes are on the SEC as the crypto industry awaits its verdict on pending rule changes and the potential approval of BlackRock’s iShares ethereum Trust.
BlackRock’s ethereum Trust filing emerges as another key narrative to monitor closely. As the cryptocurrency industry continues to evolve and mature, such developments underscore the growing intersectionality of traditional financial and digital asset markets, suggesting a prospective future in which digital currencies like ethereum may become more common in wallets. institutional investment.
