{"id":24444,"date":"2023-11-09T17:55:22","date_gmt":"2023-11-09T17:55:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/blackrocks-move-towards-ethereum-etf-spurs-crypto-market-surge\/"},"modified":"2023-11-09T17:55:22","modified_gmt":"2023-11-09T17:55:22","slug":"blackrocks-move-towards-ethereum-etf-spurs-crypto-market-surge","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/blackrocks-move-towards-ethereum-etf-spurs-crypto-market-surge\/","title":{"rendered":"BlackRock&#8217;s move towards Ethereum ETF spurs crypto market surge"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1644463622883-8854b2dd-6bdf-4e8e-ac9e-8ce963b4c3a4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1644463622883-8854b2dd-6bdf-4e8e-ac9e-8ce963b4c3a4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1644463622883-8854b2dd-6bdf-4e8e-ac9e-8ce963b4c3a4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2017\/06\/1644463622883-8854b2dd-6bdf-4e8e-ac9e-8ce963b4c3a4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>BlackRock takes initial steps toward an Ethereum ETF.<\/li>\n<li>BlackRock\u2019s move signals the growing institutional interest in cryptocurrency investments.<\/li>\n<li>The SEC\u2019s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm.<\/li>\n<\/ul>\n<p>On Thursday, the website for Delaware\u2019s Division of Corporations revealed the registration of an \u201ciShares Ethereum Trust.\u201d This move closely mirrors the steps taken by BlackRock in June when the company filed for a Bitcoin ETF, with a similar notice for the \u201ciShares Bitcoin Trust.\u201d\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by <a href=\"https:\/\/twitter.com\/SummersThings?ref_src=twsrc%5Etfw\">@SummersThings<\/a> <a href=\"https:\/\/t.co\/mLKIhKdiI6\">https:\/\/t.co\/mLKIhKdiI6<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1722632267032613146?ref_src=twsrc%5Etfw\">November 9, 2023<\/a><\/p>\n<\/blockquote>\n<p>The iShares product, managed by BlackRock, holds a dominant position in the exchange-traded funds sector, boasting more than $2.3 trillion in assets under management. However, the company has not yet provided an official statement regarding its plans for an Ether ETF, leaving the cryptocurrency community and investors eager to learn more about the development.<\/p>\n<h2>Ethereum\u2019s price surge<\/h2>\n<p>In response to the news of BlackRock\u2019s potential interest in launching an Ethereum ETF, the price of <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum (ETH)<\/a> experienced a 7% increase, reaching a value of over $2,000.<\/p>\n<p>This surge is reminiscent of <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin\u2019s price<\/a> movements when asset managers began pursuing ETF launches during the summer.<\/p>\n<h2>SEC\u2019s stance on crypto ETFs<\/h2>\n<p>While BlackRock\u2019s registration signals the increasing acceptance of cryptocurrencies within the financial industry, it is important to note that the U.S. Securities and Exchange Commission (SEC) has not yet approved a Bitcoin ETF.<\/p>\n<p>Historically, the SEC has maintained a cautious stance and opposed the creation of such funds. Notably, the SEC had previously blocked Grayscale\u2019s attempts to convert its Bitcoin trust into an ETF. However, a court ruling in August overruled this decision.<\/p>\n<p>While the SEC did not appeal the court\u2019s decision, it retains the authority to potentially halt Grayscale\u2019s conversion or other Bitcoin ETF proposals for various reasons.<\/p>\n<p>In the event that the SEC does approve Bitcoin ETFs, it is anticipated that Ether ETFs could follow suit, given that Ethereum is the second most popular <a href=\"https:\/\/coinjournal.net\/news\/tag\/cryptocurrency\/\">cryptocurrency<\/a> after <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a>.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/blackrocks-move-towards-ethereum-etf-spurs-crypto-market-surge\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) BlackRock takes initial steps toward an Ethereum ETF. BlackRock\u2019s move signals the growing institutional interest in cryptocurrency investments. The SEC\u2019s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm. On Thursday, the website for Delaware\u2019s Division of Corporations revealed the [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":24445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24444"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24444"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24445"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}