In recent months, asset manager BlackRock made waves by filing for a spot Bitcoin ETF with the SEC. This Thursday, November 9, the company was once again talked about. BlackRock reportedly required registration of an iShares Ethereum Trust. A procedure which does not seem trivial.
BlackRock has requested the registration of a “iShares Ethereum Trust”
It seems that financial behemoth BlackRock is not only interested in obtaining a Bitcoin ETF that it has requested. Indeed, the company could, in the coming days, launch a similar procedure concerning Ethereum.
In the last newsthe asset manager would have initiated a procedure to register a “iShares Ethereum Trust”. The latter looks exactly like the iShares Bitcoin Trust, named after the spot Bitcoin ETF that BlackRock is seeking approval from the SEC.
For analysts, this similarity is no coincidence. Especially when we remember that the financial giant requested to register its spot Bitcoin ETF, a few days before submitting its request to the SEC.
Another interesting fact is that the application for registration of the iShares Ethereum Trust was filed in the State of Delaware, as for the iShares Bitcoin Trust. This bundle of indices leads analysts to say that this is a first step towards the introduction of a request for an Ethereum ETF by BlackRock. The latter refuses to comment on the subject for the moment.
BlackRock is positioning itself!
We remember that BlackRock was the locomotive that encouraged several renowned asset managers to embark on the adventure around Bitcoin ETFs. This is the case, for example, of Invesco and Galaxy Digital.
It appears this time that BlackRock wants to join these two asset managers who have respectively submitted Ethereum spot ETF applications to the SEC. Just like Grayscale which requested, in October, the conversion of its Grayscale Ethereum Trust into a spot ETF.
We will not forget that the American financial regulator has already received and examined applications for spot Ethereum ETFs, in particular those from ARK Invest, 21Shares and VanEck. A decision on these is expected on December 25 or 26.
According to several consistent sources, BlackRock has already formally submitted a request to create an ETF based on Ethereum. The request, the completion of which is dependent on the recognition and approval of the SEC, has been filed with Nasdaq. However, we are awaiting a formal declaration on the subject.
As the crypto industry eagerly awaits a decision on ETFs, BlackRock’s entry into the Ethereum fiat space makes serious sense. It indicates growing institutional crypto interest and potential increased adoption of cryptos by the general public.
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