BlackRock’s iShares Ethereum Trust has been registered in Delaware and this announcement coincided with a significant rise in Ethereum’s value, surpassing $2,000, reflecting investor confidence in BlackRock’s involvement. BlackRock is not stopping here and has plans for a spot Bitcoin ETF in the U.S., currently awaiting SEC approval.
These trusts, like the iShares Ethereum Trust, offer select investors exposure to assets that were previously inaccessible and have a history dating back to the first trust in 1868.
The cryptocurrency market is abuzz with speculation about BlackRock’s intentions, with some suggesting insider knowledge. However, some experts believe that BlackRock’s move indicates a market readiness for a spot Bitcoin ETF.
Bitcoin’s value soared by 41% after BlackRock filed its ETF proposal, reinforcing the market’s appetite for such offerings.
Ethereum’s recent performance suggests that BlackRock’s entry into the cryptocurrency space could trigger a similar uptick for ETH, especially as Ethereum struggled to break the $2,000 barrier since mid-August.
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