BlackRock Files Ether ETF Prospectus with SEC: A Game Changer?

• BlackRock Files S-1 Form for iShares Ethereum Trust
• Effect on Ethereum's Price
• Speculative iShares ETF Registration
• Waiting for SEC's Decision on Spot Bitcoin ETF
• CEO's Support for Crypto
• Update (UTC)
• November 16, 11:50
• November 16, 13:10

BlackRock Files S-1 Form for iShares Ethereum Trust

BlackRock, the world's leading asset manager, has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for the creation of the iShares Ethereum$2,315 -2.42% Trust, a spot Ether exchange-traded fund (ETF). This action follows the corporate registration of the name last week and Nasdaq's filing of a 19b-4 with the SEC in a bid to gain approval for the spot ETF.

Effect on Ethereum's Price

The price of Ethereum (ETH) temporarily soared by almost 2%, reaching $2,080, upon the filing of the S-1 form but has since returned to roughly the same price as before the news. The swift response of crypto prices to ETF-related news has been particularly noticeable, especially following recent court rulings that have ruled against the SEC's rejection of spot crypto ETF applications, fuelling optimism about market approval.

Speculative iShares ETF Registration

A mock iShares ETF registration that referenced XRP$0.620 -1.68% led to a 10% surge in the token's price before BlackRock clarified that it was a hoax.

Waiting for SEC's Decision on Spot Bitcoin ETF

BlackRock, along with several other asset managers, is currently awaiting a response from the SEC regarding the listing of a spot Bitcoin$42,260 -0.64% ETF that could significantly broaden average investor access to the crypto market.

CEO's Support for Crypto

BlackRock's CEO Larry Fink has seemingly reversed his stance on cryptocurrencies, recently voicing his support for the sector.

Update (UTC)

November 16, 11:50

Additional details have been included throughout the article.

November 16, 13:10

The article notes that the application to the SEC was submitted last week, and the price action has been updated accordingly.

Edited by Jonathan Stoker