3 Reasons ETH price jumped above 2,000 USD
🙏🙏The Blackrock Ether ETF has taken the first step towards registering a spot Ether ETF, with the iShares Ethereum Trust recently registered in Delaware.
The move is reminiscent of BlackRock's iShares Bitcoin Trust, which was registered in a similar manner seven days before the ETF application was filed with the US Securities and Exchange Commission (SEC).
As the industry is rife with anticipation for a spot Bitcoin ETF approval, BlackRock's move potentially signals a pivotal moment for Ethereum, shedding light on its status as an asset class. potential in the organization's portfolio.
Despite the positive signs, it is important to recall the precedent set by the SEC's handling of Bitcoin ETFs. Despite rumors of a green light, the SEC did not approve the iShares Bitcoin ETF. The regulator has delayed its ruling on some proposed rule changes.
Therefore, the registration of BlackRock's iShares Ethereum Trust, while a significant development, takes us into highly uncertain territory. The SEC's previous hesitation in approving a Bitcoin ETF could cast a shadow over BlackRock's budding Ethereum confidence, potentially foreshadowing a new cycle of applications, approvals, delays and rejections.
As the crypto community watched these developments with bated breath, two things changed the game for the industry: Grayscale's court victory and BlackRock's entry into the market. Ethereum ETF, in this context, may just be the next frontier. For now, however, all eyes are on the SEC as the crypto industry awaits a ruling on pending rule changes and the potential approval of BlackRock's iShares Ethereum Trust.
Following this news, ETH price jumped more than 10% to a high of nearly $2,060 before retracing to current levels.
