BlackRock’s spot Ethereum ETF plan is confirmed after Nasdaq filing

Ether (ETH) surged 8.9% to $2080 on the news that BlackRock is moving on its prepare for an iShares Ethereum Trust and is up 10.1% over the last 24 hours, according to CoinGecko.ETHs modification in cost over the last 24 hours. Source: CoinGeckoThe rate surge has assisted ETH claw back some market dominance against Bitcoin (BTC), which has actually exceeded ETH in recent months. ETHs market dominance now sits at 17%, up 1.3% percentage points prior to the news.Magazine: Bitcoin ETF: Wall Streets Path to Crypto

BlackRock and other monetary firms have actually revealed interest in cryptocurrency-backed ETFs over the last few months.Bloomberg ETF analyst James Seyffart kept in mind that there are at least five companies in the running to win the Securities and Exchange Commissions approval for a spot Ethereum ETF.Related: Ethereum futures ETFs garner lukewarm reception on first day of tradingAmong them are VanEck, ARK 21Shares, Invesco, Grayscale and Hashdex.There are 5 other live area Eth filings that im conscious of:@vaneck_us @ARKInvest/ @ 21Shares @hashdex @InvescoUS/ @galaxyhq andddd @Grayscales filing to transform $ETHE. In no specific order.– James Seyffart (@JSeyff) November 9, 2023

Blackrocks plans for a spot Ethereum exchange-traded fund (ETF) has now been verified, per a 19b-4 kind filing sent to the United States Securities and Exhange Commission on Nov. 9. Nasdaq submitted the 19b-4 kind to securities regulator on behalf of the $9 trillion asset management firm for a proposed ETF called the “iShares Ethereum Trust.” The move signals BlackRocks intent to expand beyond Bitcoin with its ETF aspirations.NASDAQs 19b-4 filing to the SEC for BlackRocks iShares Ethereum Trust. Source: NASDAQ Earlier on Nov. 9, it emerged that BlackRock signed up business entity iShares Ethereum Trust in Delaware, the very first hint that an area Ethereum ETF filing could be imminent.UPDATE: BlackRock #Ethereum ETF validated. They just sent a 19b-4 filing with Nasdaq pic.twitter.com/pLhuhhK7jo— James Seyffart (@JSeyff) November 9, 2023