Join Our Telegram channel to stay up to date on breaking news coverage
Fund management titan BlackRock officially filed for a spot Ethereum ETF (exchange-traded fund) as the race to launch crypto ETF products gathers momentum.
The $9 trillion asset manager filed for a spot Ethereum ETF after registering the iShares Ethereum Trust last week. If approved, the spot ETH ETF will list on NASDAQ.
🔥FACTS JUST IN🔥#BlackRock, the world’s largest asset manager, has taken a significant step by officially filing its Ethereum Trust S-1 form with the SEC. This move is to introduce a spot ethereum exchange-traded fund (ETF) on #Nasdaq…👀🔥 #Crypto #Ethereum #ETH #ETF pic.twitter.com/3CmWXaqsYn
— All Facts Crypto (@AllFactsCrypto) November 16, 2023
BlackRock Driving Expectations Of Spot Crypto ETF Breakthrough
BlackRock filed for a spot Bitcoin ETF back in June, a move that fanned market expectations of an eventual breakthrough for spot crypto ETF products.
BlackRock’s interest in spot crypto ETFs has helped trigger a bull run in the crypto markets with Bitcoin and Ether up 28% and 24%, respectively, over the past month.
Bloomberg ETF analysts say there’s a 90% chance that spot Bitcoin ETF will be approved by early January, with spot ETH ETFs likely sometime after that.
Research firm Bernstein says approval of spot crypto ETFs will help crypto assets under management surge as much as 13-fold in the next five years to $650 billion.
The crypto fund management industry is on the cusp of a transformation from a “cottage industry’’ into a sector with $50 billion in revenues over the period, it says.
Also Read
- Spot Ethereum ETF-Styled ETHETF Token Unveils Massive Burn Program: Will It Trigger A 10X Explosion?
- Binance To Launch Crypto Exchange In Thailand With Thai Billionaire Sarath Ratanavadi
- Bitcoin Bulls Eye $40,000 As Bitcoin Minetrix Gains Momentum, Surpassing $4 Million In Its Stake-To-Mine ICO
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage
