The Ethereum ETF filing underscores BlackRock’s commitment to cryptocurrencies as investment products.
. The SEC’s current review of multiple Bitcoin spot ETF applications highlights the growing interest and debate surrounding these financial products.
The financial giant BlackRock triggered a 10% spike in the price of Ethereum, the second-largest cryptocurrency, by filing for an exchange-traded fund (ETF) focused on Ether.
Currently trading at $2,055, a level not seen in more than a yearthis application follows the presentation, almost five months ago, of a spot ETF for Bitcoin by BlackRockone of the world’s leading investment managers.
Cryptocurrencies: what are ETFs
ETFs offer the possibility of ntrading in secondary markets, allowing investors to access cryptocurrencies such as Bitcoin or Ethereum without the need to own a crypto wallet.
Ethereum custody in the ETF proposed by BlackRock It would be managed by the Coinbase exchange, just like in your BTC spot ETF. Large trading firms such as Jane Street, Virtu Financial and Jump Trading are in talks to provide liquidity to BlackRock’s proposed BTC Cash ETF, ppending regulatory approval.
The Ethereum ETF filing underscores BlackRock’s commitment to cryptocurrencies as investment products as it still awaits a decision from the Securities and Exchange Commission (SEC) on its bitcoin spot ETF.
Some observers interpret the presentation of this second Ethereum ETF as a positive indication from the SEC. The SEC’s current review of multiple Bitcoin spot ETF applications highlights the growing interest and debate surrounding these financial products.
Source: Ambito
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