NEW BlackRock Filing Sends Markets Soaring

November 9, 2023 8:34 pm Comments

A new filing from the world’s biggest hedge fund has thrown the markets into a frenzy.

BlackRock has filed for an Ethereum ETF with the Nasdaq stock exchange. The financial giant has $9 trillion in assets under management.

Ethereum rose to over $2,000, riding on the coattails of the recent announcement. Ethereum is currently trading at $2109 at the time of this writing.

The SEC has not yet given BlackRock word on its other highly-anticipated Bitcoin ETF application.

Multiple outlets confirmed the news on Thursday, and here’s what we currently know about BlackRock’s Ethereum ETF application:

The Block reports:

An iShares Ethereum Trust filing doesn’t yet appear on the SEC’s website.

But notably, the iShares Bitcoin Trust entity was first registered in the Delaware state seven days before BlackRock filed the ETF application with the SEC.

That suggests the iShares Ethereum Trust filing might appear on the SEC website next week.

Coin Telegraph provided an alternative perspective: “Ethereum breaks above $2,000 backed by strong ETH futures and options activity, but “Noshitcoins” questions why retail demand remains weak.”

According to Crypto Briefing:

An ether ETF would allow individual investors easy access to the second-largest cryptocurrency by market capitalization, providing efficient exposure without directly holding the asset.

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