BlackRock, the world’s largest asset manager, has submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF). This action follows the recent registration of the name and Nasdaq’s submission of a 19b-4 to the SEC, seeking approval for the spot ETF. The news briefly boosted the price of ether (ETH) by nearly 2% to $2,080, but it has since stabilised.
Crypto prices have notably responded to ETF-related developments, with recent court rulings against the SEC’s rejection of spot crypto ETF applications fueling market optimism. A spoof iShares ETF registration referencing XRP sent the token rallying 10% before BlackRock said it was fake.
Like other asset managers, BlackRock is awaiting SEC approval for listing a spot bitcoin ETF that could significantly broaden average investor access to the cryptocurrency. The company’s CEO, Larry Fink, has undergone a notable shift in stance toward crypto, expressing recent support for the sector.