Blackrock
BlackRock, the world’s largest asset manager, has officially filed for a spot Ethereum exchange-traded fund with the United States Securities and Exchange Commission.
The ETF, dubbed iShares Ethereum Trust, seeks to ”reflect generally the performance of the price of ether,” reads Form S-1 filed with the SEC by iShares late Wednesday. The iShares brand is associated with BlackRock’s ETF products.
The Form S-1 comes a week after BlackRock registered iShares Ethereum Trust entity with the Delaware Department of State Division of Corporations. Then hours after Nasdaq filed for the proposed ETF, confirming BlackRock is working on a spot ether ETF.
BlackRock has selected Coinbase Custody Trust Company as the custodian for its proposed spot Ether ETF. Additionally, the CME CF Bitcoin Reference Rate from administrator CF Benchmarks, a subsidiary of Kraken, has been chosen as the proposed ETF’s benchmark. These selections align with those made for its proposed spot Bitcoin ETF.
Fidelity
Giant asset management company Fidelity has applied for Ethereum Spot ETF.
Coinbase was listed as the custodian in the ETF application.
Following the development, a modest increase in Ethereum price and volume was observed. ETH suddenly gained approximately 0.5% in value.
While major Wall Street companies are applying for spot Ethereum ETFs one after another, the SEC has not even made a decision on spot Bitcoin ETFs yet.
Bloomberg analysts think that if Bitcoin ETFs are approved, it will be Ethereum ETFs’ turn and the possibility of approval is strong. As Bitcoinsistemi.com, we reported that the critical date for Bitcoin ETFs is January 10, 2024.
Source: theblock.co
Source: en.bitcoinsistemi.com
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