BlackRock iShares Ethereum Trust is registered in Delaware
BlackRock has registered an Ethereum trust in the US state of Delaware, which could be the first step towards an exchange-traded fund (ETF) in place of Ether (ETH).
BlackRock registered its Bitcoin (BTC) trust in June, shortly before filing for a Bitcoin ETF with the United States Securities and Exchange Commission.
BlackRock has taken the first step to offer an Ether ETF for space. I checked the website myself. Have a great time at @SummersThings https://t.co/mLKIhKdiI6
— Eric Balchunas (@EricBalchunas) November 9, 2023
The company was registered with the state's Division of Corporations with an incorporation date of November 9. The registered agent is Daniel Schweiger at Blackrock's address in Wilmington, D.C. According to LinkedIn, Schweiger is a managing director at BlackRock. The trust is called iShares Ethereum Trust – iShares is a brand of BlackRock.
Related: SEC's first window to approve all 12 spot Bitcoin ETFs begins today
There have been several SEC applications in the past for spot ETH ETFs, although none have been approved yet. The SEC delayed rulings on ARK 21Shares and VanEck's applications on September 27. These decisions are December 25th or 26th. Invesco and Galaxy Digital recently filed for space ETH ETFs. Grayscale filed to cover the Grayscale Ethereum Trust into a spot ETF in October.
Also on November 9, ARK Invest and 21Shares announced the launch of a new set of digital asset ETFs that invest in long-term BTC and ETH futures contracts.
BlackRock is the world's largest asset manager with nearly $9 trillion in assets under management. His position is that the BTC ETF is one of those currently under SEC consideration.
ETH rose 6.98% on the news and continues to climb. It reached its highest price since April and crossed the psychologically important $2,000 mark. This booster tracks the coin's recent sluggish performance.
BlackRock declined to respond to Cointelegraph's questions.
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