BlackRock Registers iShares Ethereum Trust, Paving Way for Spot ETF

BlackRock finally joins the spot Ether race with its iShares Ethereum Trust.

BlackRock, the world’s leading investment company, has registered an iShares Ethereum Trust in Delaware on November 9, as reported by X account @SummersThings in a post. The move could be a sign that BlackRock plans to file for a spot Ethereum ETF, similar to its filing for a spot Bitcoin ETF after registering its iShares Bitcoin Trust, the author suggested.

Bloomberg analyst Eric Balchunas confirmed the news, saying that ‘BlackRock has made first step towards filing for a spot Ether ETF.’

Ethereum’s price jumped 8% in 24 hours on November 9, 2023, from $1,900 to $2,042. The surge reportedly happened even before news of BlackRock’s iShares Ethereum Trust registration broke out.

Spot Ether ETFs have yet to be approved, just like spot Bitcoin ETFs. However, market observers believe that approval for spot Bitcoin ETFs is imminent, and that spot Ether ETFs will follow soon after.

Bitcoin’s price climbed above $37,900 today amid spot Bitcoin ETF buzz.