"BlackRock files for an Ethereum ETF, following its Bitcoin Trust, signaling strong interest in crypto among the world's largest asset manager."
The world's largest asset manager, BlackRock, has officially applied to launch an Ethereum exchange-traded fund (ETF). According to their filing with the US Securities and Exchange Commission, the iShares Ethereum Trust ETF plans to track the price of ether.
Recent Changes to BlackRock's Crypto ETF Plans
This action comes after BlackRock's registration of the iShares Ethereum Trust and Nasdaq's filing, both of which confirmed plans for an ether ETF. A while back in June, BlackRock applied for a Bitcoin Trust, showing the firm's growing interest in cryptocurrencies.
Market Reactions to Bitcoin ETF Movements
IBTC, the company's bitcoin ETF, is being reviewed and has sparked significant market interest. Big trading businesses are preparing to back BlackRock's Bitcoin ETF, which has helped Bitcoin's price rise. According to BlackRock CEO Larry Fink, recent inaccurate rumors about the ETF's acceptance showed a high demand for cryptocurrency investments.