Nasdaq Filing Confirms BlackRock’s Intentions for Ethereum ETF

BlackRock aims to establish an ETF that encompasses Ethereum’s ether (ETH), underscoring the world’s largest asset manager’s increased dedication to cryptocurrencies.

Nasdaq recently disclosed the company’s intention to introduce an ETF, as per the filing, which BlackRock plans to list on the U.S. exchange, pending regulatory approval. Earlier on Thursday, it was reported that the entity “iShares Ethereum Trust” had been registered in Delaware; iShares being BlackRock’s ETF division.

BlackRock has already stirred interest in the crypto sphere with its pursuit of a Bitcoin ETF, a user-friendly product that has the potential to significantly expand cryptocurrency accessibility for the average investor. CEO Larry Fink, once sceptical, has now emerged as a vocal advocate for crypto.

James Seyffart, an ETF analyst at Bloomberg, highlighted that there are a minimum of five companies vying for approval from the Securities and Exchange Commission for an Ethereum ETF spot. These contenders include VanEck, ARK 21Shares, Invesco, Grayscale, and Hashdex.

ETH is now priced back over $2k, currently priced at $2.1k as of writing, up 36% across the last 4 weeks.