BlackRock ETH ETF helps price past $2k; community sees BTC ETF as ‘done deal’

Other crypto proponents rejoiced in growing institutional interest beyond Bitcoin. Raoul Pal stated an ETH ETF is the “holy grail for possession supervisors as they can capture the yield and only provide price efficiency to the ETF holders.” Others pointed out that BlackRocks ETH ETF interest recommends that its spot Bitcoin ETF is a done deal.ETH ETF filling appears to suggest BTC ETF is a done deal.( Bottom of page 12 onward) pic.twitter.com/Jymn3ltzie— Wise (@wise_eth) November 9, 2023

The worlds biggest possession manager filed for an area Ether (ETH) exchange-traded fund (ETF) on Nov. 9, 4 months after submitting for an area Bitcoin ETF. BlackRocks filing assisted ETH rates soar past $2,000 for the first time in over a year.BlackRocks objective to submit for an Ethereum area ETF had a bullish impact on the crypto market, helping ETH to get past the important resistance of $2,000 for the very first time in 6 months. The move indicates the asset supervisors intent to expand beyond Bitcoin with its ETF goals, invoking numerous reactions from the crypto community.Related: Ethereum futures ETFs amass lukewarm reception on first day of tradingBitcoin proponent Udi Wertheimer reacted to the news, saying, “There is a 2nd finest,” referring to the popular meme of MicroStrategy CEO Michale Saylor, who believes that Bitcoin is the just real property and there is no second best.BREAKING: BLACKROCK: THERE IS A SECOND BEST pic.twitter.com/SEtoTADf0h— Udi Wertheimer (@udiWertheimer) November 9, 2023

Sassal, an independent Ethereum educator, accentuated the effect of the ETF on ETH yields, claiming traders are going to “absolutely salivate over the genuine yield that a staked spot ETH ETF can offer.” Magazine: Bitcoin ETF: Wall Streets Path to Crypto

Other Questions People Ask

What impact does the BlackRock ETH ETF have on Ethereum prices?

The BlackRock ETH ETF has significantly influenced Ethereum prices, helping them surpass the crucial $2,000 mark for the first time in over a year. This surge indicates strong institutional interest in Ethereum, which many believe could lead to further price increases as more investors enter the market. The ETF's introduction is seen as a bullish signal, suggesting that institutional players are ready to diversify beyond Bitcoin.

How does the community view the BTC ETF in light of BlackRock's ETH ETF filing?

The crypto community largely perceives the BTC ETF as a 'done deal' following BlackRock's filing for an ETH ETF. Many believe that the move to file for an Ethereum ETF indicates confidence in the approval of a Bitcoin ETF, as it shows BlackRock's commitment to expanding its cryptocurrency offerings. This sentiment is echoed by various crypto proponents who see institutional interest as a catalyst for future market growth.

What are the potential benefits of a staked spot ETH ETF according to crypto experts?

Experts like Sassal highlight that a staked spot ETH ETF could provide substantial yields for investors, making it an attractive option. The potential for real yield generation is expected to draw significant interest from traders looking to capitalize on Ethereum's growth. This could lead to increased demand for Ethereum and further price appreciation as more investors seek exposure through the ETF.

Why is BlackRock's interest in an ETH ETF considered significant for the crypto market?

BlackRock's interest in an ETH ETF is significant because it represents a shift in institutional focus beyond Bitcoin, signaling broader acceptance of cryptocurrencies. This move could encourage other asset managers to explore similar offerings, potentially leading to increased liquidity and investment in the crypto market. The filing also reflects growing confidence in Ethereum's long-term viability as an investment asset.

What reactions have crypto proponents had regarding BlackRock's ETH ETF filing?

Crypto proponents have reacted positively to BlackRock's ETH ETF filing, viewing it as a pivotal moment for Ethereum and the broader market. Figures like Raoul Pal have emphasized that this development could be the "holy grail" for asset managers, while others see it as validation of Ethereum's potential. The overall sentiment is one of optimism, with many anticipating that this will lead to increased institutional investment and further price gains.