BlackRock Signals Potential SEC Filing with Ethereum Trust Registration in Delaware

In a strategic move, BlackRock, the global asset management giant, has officially registered an Ethereum trust in the state of Delaware. This development sparks speculation about the groundwork for a prospective exchange-traded fund (ETF) focused on Ether (ETH), currently priced at $2,018.

Drawing parallels with its prior Bitcoin trust registration at $36,215 in June, which preceded a subsequent filing for a Bitcoin ETF with the United States Securities and Exchange Commission (SEC), BlackRock seems to be following a similar trajectory for Ethereum. The newly registered entity, named iShares Ethereum Trust, falls under the renowned iShares brand owned by BlackRock, and its formation date is listed as November 9.

The registration was processed through the state’s Division of Corporations, with the appointed agent being Daniel Schweiger, a managing director at BlackRock, as per his LinkedIn profile. Notably, this move aligns with BlackRock’s pattern preceding regulatory filings.

While awaiting SEC decisions on spot ETH ETF applications from entities like ARK 21Shares and VanEck, with decisions slated for December 25 or 26, BlackRock’s entry into the Ethereum space adds another dimension to the evolving landscape. Invesco and Galaxy Digital have also joined the fray with their applications following the September 27 delays.

Coinciding with BlackRock’s Ethereum Trust registration on November 9, ARK Invest and 21Shares unveiled plans for a new suite of digital asset ETFs, focusing on long-term BTC and ETH futures contracts.

As the world’s largest asset manager boasting approximately $9 trillion in assets under management, BlackRock’s influence on the cryptocurrency market is considerable. The ongoing consideration of its spot BTC ETF by the SEC adds anticipation to the potential approval of a similar product for Ethereum.

The market response has been notable, with ETH experiencing a 6.98% surge following this news, surpassing the psychologically significant $2,000 threshold. This upward momentum marks a significant turnaround from Ethereum’s recent subdued performance, reaching its highest price since April.