BlackRock seeking SEC approval for spot Ethereum ETF

<img width="250" height="187" src="https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-250×187.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-250×187.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-700×525.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-768×576.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-120×90.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-245×184.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372-500×375.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-BlackRock-seeking-SEC-approval-for-spot-Ethereum-ETF-5514747859-iStock-1007845372.jpg 1183w" sizes="(max-width: 250px) 100vw, 250px" /><p>This move by the market-leading asset manager not only infused more confidence in crypto markets but also triggered discussions at the SEC level with the aim to diluting regulatory opposition to virtual currencies.</p>
<p>As with the Bitcoin price in June when <a href="https://www.leaprate.com/forex/brokers/bux-and-blackrock-team-up-to-launch-etf-savings-plans-in-europe/" target="_blank" rel="noopener">BlackRock</a> applied for that spot ETF, the Ethereum (ETH-USD) price spiked to its highest level so far this year before settling down again. If approved, the ETF will pave the way for investors to gain Ethereum exposure in the US without directly buying the cryptocurrency.<br />
This means investors would essentially invest in the spot price of Ethereum and not the company responsible for this specific crypto ecosphere.</p>
<p>_______________________________________________________________________</p>
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener noreferrer"><em>Don’t miss out the latest news, subscribe to LeapRate’s newsletter</em></a></p>
<p>_______________________________________________________________________</p>
<p>In July, the SEC indicated that the spot cryptocurrency ETF filings by BlackRock and other asset managers did not supply sufficient details about surveillance-sharing agreements. Despite this, expectations are that the BlackRock Bitcoin ETF will be approved within the first three months of 2024.</p>
<p>Since BlackRock led the way with its first spot cryptocurrency ETF filing, others such as Fidelity, Invesco (IVZ), and Wisdom Tree (WT) followed suit. Ethereum’s market cap sits at $245.52bn at present. Over the last six months, BlackRock shares increased by 2.6% compared to an overall 8.9% industry growth.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/blackrock-seeking-sec-approval-for-spot-ethereum-etf/">BlackRock seeking SEC approval for spot Ethereum ETF</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>