The cryptocurrency market continues to be busy this Thursday (9) in a positive way. After Bitcoin (BTC) broke the $37,000 mark, Ethereum (ETH) surpassed the psychological $2,000 level. This followed reports that the world’s largest asset manager, BlackRock, registered an Ethereum Trust product in the US state of Delaware.
At the time of writing this article, Ethereum is priced at US$2,032. According to data from CoinGecko, in the last 24 hours the price of ETH has jumped around 8%.
BlackRock Registers Ethereum Investment Product
The Delaware Department of State Division of Corporations website shows that BlackRock Advisors today, November 11th, filed an entity with the name “iShares Ethereum Trust.” As shown in the document below, the registration was made by Daniel Schwieger, who would be managing director of BlackRock. The manager has not yet publicly commented on the information.
BlackRock’s current registration does not mean that the US$8.5 trillion manager will, in fact, offer an Ethereum ETF. However, analysts noted that BlackRock filed a similar filing a week before filing for a spot Bitcoin ETF with the SEC.
BlackRock is one of several companies currently waiting for the United States Securities and Exchange Commission (SEC) to review its application to launch a spot Bitcoin ETF (exchange-traded fund). Analysts noted yesterday (08) that, as of today, the SEC has a window of just over a week to approve (or not) 12 Bitcoin ETF applications.
In addition to BlackRock, Fidelity, VanEck, WisdomTree, Invesco, Bitwise, among other companies, are also awaiting the US regulator’s decision.
Meanwhile, Ethereum is also attracting the attention of financial giants. Asset manager Grayscale, for example, filed last month to convert its Grayscale Ethereum Trust into an ETH spot ETF.