BlackRock aims to create an ETF encompassing Ethereum’s ether (ETH), highlighting the increased commitment of the world’s largest asset manager to cryptocurrencies.
Nasdaq recently revealed the company’s plan to introduce an ETF, according to the filing, which BlackRock intends to list on the U.S. exchange, subject to regulatory approval. Earlier on Thursday, reports indicated the registration of the entity “iShares Ethereum Trust” in Delaware, with iShares being BlackRock’s ETF division.
BlackRock has already attracted attention in the crypto sphere by pursuing a Bitcoin ETF, a user-friendly product with the potential to significantly broaden cryptocurrency access for average investors. CEO Larry Fink, formerly sceptical, has now emerged as a vocal advocate for crypto.
James Seyffart, an ETF analyst at Bloomberg, noted that at least five companies are seeking approval from the Securities and Exchange Commission for an Ethereum ETF spot. These contenders include VanEck, ARK 21Shares, Invesco, Grayscale, and Hashdex.
ETH has now surged back over $2,000, currently priced at $2,100 as of writing, marking a 36% increase over the last 4 weeks.
