The formation of a new business entity could foreshadow an impending SEC filing.
BlackRock has registered an Ethereum trust in the American state of Delaware, which is possibly a first step toward a spot Ether exchange-traded fund (ETF).
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BlackRock registered its Bitcoin trust in June, shortly before filing with the United States Securities and Exchange Commission for a Bitcoin ETF.
The entity was formed on November 9 and registered with the state’s Division of Corporations. Daniel Schweiger is the registered agent at BlackRock in Wilmington, DE. Schweiger is a managing director at BlackRock, according to LinkedIn. The entity is known as the iShares Ethereum Trust, which is a BlackRock brand name.
Several previous SEC applications for spot ETH ETFs have been filed, but none have been accepted. On September 27, the SEC postponed judgments on applications from ARK 21Shares and VanEck. These judgments must be made by December 25 or 26. Soon after, Invesco and Galaxy Digital applied for spot ETH ETFs. Grayscale applied in October to convert its Grayscale Ethereum Trust to a spot ETF.
ARK Invest and 21Shares also announced the introduction of a new suite of digital asset ETFs on November 9 that would invest in long-term BTC and ETH futures contracts.
With over $9 trillion in assets under management, BlackRock is the world’s largest asset manager. Its spot BTC ETF is now under consideration by the SEC.
ETH has surged 6.98% in response to the news and continues to grow. It has broken through the psychologically critical $2,000 barrier, achieving its highest level since April. This increase compensates for the coin’s recent slow performance.
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