An investment firm with trillions of dollars worth of assets under its management is registering an Ethereum (ETH) trust in Delaware as the leading altcoin surges over $2,000.
According to new filing documents shared on the social media platform X, BlackRock has registered its iShares Ethereum trust in the state of Delaware, a move similar to one the firm made when initially registering its Bitcoin (BTC) trust.
“The iShares Ethereum Trust has just been registered in Delaware. For context, BlackRock’s iShares Bitcoin Trust was registered in a similar manner seven days before they filed the ETF application with the SEC.”
The shared documents have since been verified by senior Bloomberg ETF analyst Eric Balchunas.
“BlackRock has made the first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch…”
The move comes as the second-largest digital asset by market cap sees a bump in price. ETH is trading for $2,011 at time of writing, a 6.5% gain during the last 24 hours.
Early last month, the crypto markets rose as other investment firms such as VanEck, Bitwise, and ProShares launched Ethereum Futures exchange-traded funds (ETFs).
As stated by ProShares’ chief executive Michael L. Sapir at the time,
“We have seen substantial demand from investors for access to the performance of cryptocurrencies through ETFs with the success of our Bitcoin-linked ETF, BITO, which was launched almost two years ago and has become the largest crypto-linked ETF in the world.
Now, with the launch of [our ETH ETF] investors who want to target the performance of Bitcoin or Ether through an ETF, with all of the structure’s benefits, will not need to wait.”
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