BlackRock Registers Ethereum Trust, Fuelling Speculation of an Ether ETF Move
Summary:
BlackRock reportedly establishes an Ethereum trust in Delaware, hinting at movement toward an Ether spot exchange-traded fund (ETF). This comes following BlackRock's creation of a Bitcoin trust in June, a precursor to petitioning the US Securities and Exchange Commission for a Bitcoin ETF. The news sees Ether's rate rise by 5.77%, while no comments have been made by BlackRock. More details will be released as they surface.
In what could be a pioneering step towards an Ether (ETH) spot exchange-traded fund (ETF), BlackRock has reportedly established an Ethereum trust in Delaware. This follows the organization's similar move in June when it registered a Bitcoin (BTC) trust shortly before petitioning the United States Securities and Exchange Commission (SEC) for a BTC ETF. The trust was set up on November 9th, according to the state’s Division of Corporations. Daniel Schweiger, a managing director at BlackRock as per LinkedIn, is the registered agent, stationed at BlackRock’s Wilmington, DE address. While ETH saw a 5.77% uptick, BlackRock offered no comments when approached by Cointelegraph. This story is ongoing with more details to follow as they emerge.
Published At
11/9/2023 4:50:58 PM
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