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Table of Contents The world’s largest asset manager, BlackRock, has officially filed an application for a spot Ethereum ETF with the United States Securities and Exchange Commission.  BlackRock has already filed for a spot Bitcoin ETF back in June, which is still pending with the SEC for approval.  BlackRock Files Spot Ethereum ETF  In a development that could serve as a major boost to crypto, BlackRock, the world’s largest asset manager, has officially filed for a spot Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission. The ETF, called the iShares Ethereum Trust, seeks to “reflect generally the performance of the price of Ether (ETH),” according to the Form S-1 filed with the Securities and Exchange Commission.  “The iShares Ethereum Trust (the “Trust”) is a Delaware statutory trust that issues shares (“Shares”) representing fractional undivided beneficial interests in its net assets. The assets of the Trust consist primarily of ether held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of ether. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities.” The Form S-1 comes only a week after BlackRock registered the iShares Ethereum Trust entity with the Delaware Department of State Division of Corporations. Hours later, Nasdaq filed for the proposed ETF, confirming that BlackRock was indeed working on a spot Ether ETF. The asset manager has chosen the Coinbase Custody Trust Company as the custodian for its proposed spot, Ethereum ETF. Furthermore, the CME CF of Bitcoin Reference Rate from administrator CF Benchmarks, a subsidiary of Kraken, has been selected as the proposed ETF’s benchmark. These selections align with the ones made for the proposed spot Bitcoin ETF.  Bitcoin ETF Still Awaits Approval  Meanwhile, BlackRock’s application for a spot…

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Filed under: News - @ November 17, 2023 5:22 pm