🚀 ETH price skyrocketed when BlackRock confirmed the creation of an Ethereum spot ETF
BlackRock officially confirmed the existence of the Ethereum spot ETF when it submitted a proposal to establish it with the SEC. The fund will be named iShares Ethereum Trust listed and supported by the Nasdaq stock exchange, Coinbase will be the custodian.
BlackRock has prepared the procedure to open an Ethereum spot ETF when registering it in Delaware. This is the second spot ETF offering set up by BlackRock for crypto assets, following the iShares Bitcoin Trust.
In addition, many other organizations including Grayscale, Ark Invest, VanEck, ProShares and Valkyrie have all submitted requests to the SEC to open Ethereum spot ETFs recently, after the securities commission approved a series of Ethereum futures ETFs. in early October.
However, the probability of an Ethereum spot ETF being approved in the near future is not high, because the SEC has not yet authorized any Bitcoin spot ETF proposal. After the above information, ETH price increased to 2,100 USD - The highest level in the past 6 months.
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