The bullet is in the church, BlackRock has applied for an Ethereum ETF. The world’s largest asset manager has filed the application with the US Securities and Exchange Commission.
iShares Ethereum Trust
The ETF is called iShares Ethereum Trust and tracks the price of Ethereum. This is evident from the form that iShares filed with the SEC on Wednesday. The iShares brand is associated with BlackRock’s ETF products.
The filing comes a week after BlackRock registered the iShares Ethereum Trust unit with the Delaware Department of State’s corporate division. Just hours after Nasdaq filed for the proposed ETF, it was confirmed that BlackRock was working on a spot Ether ETF.
Coinbase and Kraken
BlackRock has selected Coinbase Custody Trust Company as the custodian for its proposed Ether spot ETF. Additionally, the CME CF Bitcoin benchmark rate from CF Benchmarks, a subsidiary of Kraken, was selected as the benchmark for the proposed ETF. These are the same parties that BlackRock also wants to collaborate with for its Bitcoin ETF.
BlackRock filed for iShares Bitcoin Trust in June this year, which moved the markets. The SEC is currently reviewing several spot Bitcoin ETF applications, including one from BlackRock. The asset manager’s Bitcoin ETF ticker, IBTC, also appeared on the Depository Trust & Clearing Corp. website. since August, but was only discovered late last month.
Major trading firms such as Jane Street, Virtu Financial and Jump Trading are already in talks to provide liquidity to BlackRock’s proposed spot Bitcoin ETF, if it receives regulatory approval.
The XRP fund turns out to be fake news
Earlier this week, someone in Delaware registered a company called “iShares XRP Trust” and assigned it to BlackRock. BlackRock said at the time that the request had nothing to do with the asset manager. The case is currently under investigation by the Delaware Department of Justice.
Source: BTC Direct
Source link
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
