HomeCryptoBlackRock files prospectus for Ethereum Spot ETF with the SEC

BlackRock files prospectus for Ethereum Spot ETF with the SEC

BlackRock has filed the prospectus for its Ethereum Spot ETF, called the iShares Ethereum Trust, with the US Securities and Exchange Commission (SEC). 

BlackRock files application to issue its Ethereum Spot ETF

The world’s largest asset manager, BlackRock, has filed Form S-1 for its iShares Ethereum Trust, an exchange-traded fund (ETF) of spot ethereum. 

Now, it will be up to the US Securities and Exchange Commission (SEC) to provide approval (or not) of that application.

Not only that, also working with the asset giant is Nasdaq, which will be responsible for operationally marketing the ETF shares on its Stock Market LLC. 

And in fact, just a few days ago, Nasdaq filed a statement with the SEC saying that approval of an ETF on spot ETH would be “a major victory for US investor protection” in the crypto sector. 

Indeed, specifically, Nasdaq reportedly explained to the SEC that the lack of such a derivative product, exposes investors’ assets to significant risk as they would be forced to seek other exposures with riskier products. 

BlackRock forges ahead with spot Ethereum ETF: how is ETH’s price progressing?

While the present news is making the rounds on the web, confirming the asset giant’s efforts toward the spot ethereum ETF as well, the price of ETH does not seem to be reacting with much fanfare. 

In fact, at the time of writing, ETH is worth $1,977, down -5% from a week ago

In this past month, marked by the crypto market’s bull run, ETH reached as high as $2,132 on 10 November. 

That price remains the highest for Ethereum in the entire year 2023, even surpassing its annual high last April, when ETH touched $2,120. 

Denial on XRP-linked Exchange-Traded Funds

Also in this fairly eventful week for the crypto ETF sector, BlackRock also had to take the field to deny some rumors circulating on social media. 

These were about the possibility of the world’s largest asset manager issuing exchange-traded funds linked to XRP. 

Basically, some ETF watchers helped earlier this week to spread a false filing by BlackRock related to its demand for Ripple ETFs. 

Lo and behold, a spokesperson for the asset giant clarified, in fact, that such a regulatory filing was misinterpreted as a step toward the XRP ETF, hence stating that such an interpretation is false. 

In contrast, however, to what is happening now with ETH, the fake news about BlackRock’s Ripple ETF still helped see XRP’s price pump by +10%.

Stefania Stimolo
Stefania Stimolo
Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.