USA Bytes

BlackRock Registers iShares Ethereum Trust

By KeeVurds Desk

BlackRock, the world's largest asset manager, has registered the iShares Ethereum Trust in Delaware.

This move comes as the industry anticipates the approval of a Bitcoin  ETF, positioning Eth as an institutional investment asset.

The Right Timing?

Today's Ethereum firm registration by BlackRock sparked a 6% surge in Ethereum's price to $2,010 as per reports.

ETH Price Surges 6%

This is reminiscent of BlackRock's previous Bitcoin Trust registration, which led to a significant increase in Bitcoin's price.

Why The Surge In Price

The Securities and Exchange Commission (SEC) has a history of delaying  Bitcoin ETFs, which adds an element of uncertainty.

SEC delays Bitcoin ETFs

Competition in the crypto ETF space is heating up, with entities such as VanEck, Ark/ 21Shares, Galaxy/ Invesco, and Grayscale.

Competition Heats Up

The crypto community is now eagerly awaiting the SEC's decision on pending rule changes and BlackRock's Ethereum Trust approval.

Waiting For SEC's Decision