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BlackRock Nears Ethereum Spot ETF with SEC Filing

BlackRock Nears Ethereum Spot ETF with SEC Filing

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Asset management giant BlackRock, requested the Securities and Exchange Commission (SEC) approve the listing of the BlackRock Ethereum Trust on the Nasdaq exchange, according to a recent 19b-4 filing.

This is the first official Ethereum ETF application by BlackRock after the company registered its iShares Ethereum Trust with Delaware earlier today. That initial registration hinted an SEC filing was imminent.

BlackRock’s Ethereum ETF would allow investors to gain direct exposure to the price of Ether. This differs from existing products like the Grayscale Ethereum Trust ($ETHE), which trades based on a derivative.

Ethereum’s native token ETH is up 9% over the past 24 hours, according to CoinGecko.

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