Blackrock may be taking steps toward obtaining approval from the U.S. Securities and Exchange Commission (SEC) for a spot ethereum exchange-traded fund (ETF) in the near future. This comes on the heels of the company’s application for an Ishares Ethereum Trust with the Delaware Division of Corporations on Thursday.
Speculation Rises on Blackrock’s Preparations for Spot Ether ETF Launch
As the world’s largest asset manager by assets under management, Blackrock has formally recorded its Ishares Ethereum Trust with Delaware’s Division of Corporations. The document, dated November 9, 2023, identifies the trust as statutory and acknowledges Blackrock Advisors as the filing party.
James Seyffart, a Bloomberg ETF analyst, called attention to the filing on the social platform X, verifying its authenticity. “Multiple people asking ‘is this real’ — yes it’s real,” Seyffart confirmed. “An entity with this name was indeed registered in Delaware. That’s all we can really confirm at this time. Those images are real and from the State of Delaware website.”
Market watchers speculate that Blackrock is positioning itself to introduce a spot ether ETF, subsequent to regulatory consent for its spot bitcoin ETF initiative. Blackrock’s submission for a spot bitcoin ETF was made on June 15, 2023, and the firm is currently awaiting the SEC’s decision.
In the meantime, ethereum’s (ETH) value has seen an uptick of over 5% in the last 24 hours, temporarily crossing the $2,000 mark per unit. The surge was a lot more pronounced following the circulation of the Blackrock story across social media networks. However, only time will reveal Blackrock’s next move with the Ishares ETH trust.
What do you think about Blackrock’s registration in Delaware? Share your thoughts and opinions about this subject in the comments section below.
source https://news.bitcoin.com/blackrock-registers-ishares-ethereum-trust-with-delawares-division-of-corporations/
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