BlackRock's Ethereum Trust Ignites Crypto Market: Asset Management Behemoth Doubles Down On Digital Assets

Zinger Key Points
  • The move follows BlackRock’s earlier filing for a spot Bitcoin ETF with the SEC.
  • The potential Ethereum ETF filing could solidify BlackRock’s position within the crypto industry.

BlackRock Advisors, a division of asset management giant BlackRock BLK, registered an iShares Ethereum Trust in Delaware, according to a filing on Thursday.

This move came after BlackRock’s announcement earlier this year of its filing for a spot Bitcoin BTC/USD ETF with the U.S. Securities and Exchange Commission (SEC), which was followed by the registration of its iShare Bitcoin Trust just a week later.

This development is particularly noteworthy as it comes ahead of Benzinga’s Future of Digital Assets conference on Nov. 14, where the future of cryptocurrencies and their role in the financial market will be a key topic of discussion.

The potential filing of a spot Ethereum ETH/USD ETF by BlackRock has been a topic of speculation among industry experts.

Also Read: If FTX Is Up For Sale, New Owners Must Adhere To Law, FTX Chair Gary Gensler Says

The actual filing would not only solidify BlackRock’s position within the industry but also underscore the asset manager’s belief in the long-term potential and impact of digital assets.

Despite the SEC’s current stance, which has yet to approve the first Bitcoin ETF offering in the country, BlackRock has consistently expressed optimism about the asset’s potential.

Many anticipate a change in the SEC’s position, with approval expected to occur sometime this year.

Read Next: Standard Chartered, SBI Holdings Team Up For $100M UAE Digital Asset Joint Venture

Industry titans BlackRockDTCCOCCState StreetSociété GénéraleHederaCitiBMONorthern TrustCitibankAmazonS&P GlobalGoogleInvesco, and Moody’s will join Benzinga on Nov. 13 Fintech Deal Day and Nov. 14 Future of Digital Assets. Secure a spot here to join them!

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsSECMarketsCrypto industrycrypto marketDigital AssetsEthereum TrustiShares Ethereum TrustSpot Bitcoin ETF
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!