- BlackRock is reportedly planning to register a spot Ethereum ETF.
- The company submitted a request for Bitcoin ETFs earlier this year.
- The Securities and Exchange Commission recently sanctioned BlackRock.
On November 9, leading global asset manager BlackRock filed paperwork to register its iShares Ethereum Trust entity in Delaware.
Is a Spot Ethereum ETF Imminent?
Registered under BlackRock Advisors, the new filing raises speculations of a forthcoming spot Ethereum ETF proposal.
It is reminiscent of BlackRock’s iShares Bitcoin Trust registration in June, preceding its filing for Bitcoin ETF application with the Securities and Exchange Commission (SEC).
In response to the news, Ethereum is experiencing a price surge as it soars past a $2k price point.
BlackRock was recently fined $2.5 million by the Securities and Exchange Commission for the misinterpretation of investment and inaccurate description of entertainment investment offers.
On the Flipside
- Regulations from the Securities and Exchange Commission (SEC) might pose a formidable challenge for BlackRock’s pursuit of a spot Ethereum ETF approval.
- Grayscale is still engaged in discussions with the commission on its Bitcoin ETF proposal.
- If successful, BlackRock’s Ethereum ETH would offer investors more flexibility and investment control.
Why This Matters
The potential approval of BlackRock’s ETH ETF could mark the inception of a first-of-its-kind Exchange Traded Fund, paving the way for broader adoption on a global scale.
To dive deeper into BlackRock’s Bitcoin proposal in June, read here:
Understanding BlackRock’s Bitcoin Proposal: ETF, Trust, or Something Else?
The SEC is scrutinized for its aggressive regulations and intensified actions against the crypto industry. Read more:
SEC Faces Funding Block as Rep Counters Crypto Crackdown