BlackRock Officially Files for Spot Ethereum ETF, ETH Price Eyes $2.1K

2023-11-16 11:49:52

After a few weeks of speculation following the registration of the iShares Ethereum Trust in Delaware, BlackRock has filed the S-1 prospectus for the product with the SEC.

This is the second cryptocurrency-related exchange-traded fund that the company wants to launch after its spot Bitcoin ETF application.

CryptoPotato reported last week when the largest asset manager registered a corporation named the “iShares Ethereum Trust” in Delaware, indicating its intentions to file for a spot ETF tracking the performance of the second-biggest cryptocurrency.
Earlier today, the financial behemoth officially filed the S-1 prospectus with the United States’ securities regulator.
As with the Bitcoin application, which was filed in June this year, BlackRock has named Coinbase as the Custodian for the underlying ETH.
The filing doesn’t mention whether the Trust will actively be staking ETH and distributing dividends to shareholders from the yield.
Recall that the iShares Ethereum Trust registration from last week had an instant impact on ETH’s price, which soared by $200 in hours. Now, though, the largest altcoin sits quietly at under $2,100 after a market-wide recovery within the past 24 hours.
It’s also worth noting that while BlackRock had indeed filed for spot ETFs tracking BTC and ETH, the company refuted recent rumors that it had such intentions for a spot Ripple (XRP) ETF.
This came amid reports that BlackRock had registered an XRP Trust in Delaware. The case was recently handed over to the local authorities.

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