BlackRock files prospectus for Ethereum spot ETF

Blackrock has just submitted a file to the SEC for a ETF on Ethereum at cash. A form submitted by Nasdaq last week highlighted the plans from giant of the TradFi.

The company with $10 trillion in assets, BlackRockhas filed a prospectus with the U.S. Security and Exchange Commission (SEC) to launch a exchange-traded fund type spot on Ethereum (ETH).

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Called iShares Ethereum Trust, theETF seeks to broadly reflect the performance of the ether price and will be listed on Nasdaq, subject to the approval of the regulator, which has so far not authorized any crypto cash funds.

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The price of Ethereum, which had already risen sharply since Nasdaq filed a form last week to list the ETF in question, was up just over 1% on Thursday following the news.

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ETH price - source : tradingview

From ETFs spot would track the price of the underlying cryptocurrency market and offer investors exposure without the need to hold the asset.

Hopes of such products being approved by the US regulator have been stirring the market for some time, and were heightened this summer following BlackRock’s entry into the race for spot Bitcoin ETFs.

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