BlackRock to Launch a Spot Ethereum ETF

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BlackRock has officially confirmed its plans to launch a spot Ethereum exchange-traded fund (ETF) by submitting a 19b-4 form filing to the United States Securities and Exchange Commission on November 9.

The filing, done on behalf of the $9 trillion asset management firm, outlines a proposed ETF called the “iShares Ethereum Trust” and signals BlackRock’s desire to expand beyond Bitcoin with its ETF aspirations.

This announcement follows the earlier reveal that BlackRock had registered a corporate entity named iShares Ethereum Trust in Delaware, hinting at the possibility of a spot Ethereum ETF filing in the near future.

The move also reflects the growing interest among financial firms, including BlackRock, in cryptocurrency-backed ETFs, as seen over the last few months.

According to Bloomberg ETF analyst James Seyffart, there are at least five firms vying for the Securities and Exchange Commission’s approval for a spot Ethereum ETF.