Blackrock has just completed the registration process for the "iShares Ethereum Trust," which has resemblance to the prior occurrences around the establishment of a Bitcoin exchange-traded fund (ETF).
Subsequently, the asset management submitted a filing to Nasdaq, awaiting acknowledgement from the Securities and Exchange Commission (SEC).
The price of Ethereum exhibited a notable degree of optimism, as the cryptocurrency experienced a substantial jump of over 10%, reaching a value of $2,100.
The price of Ethereum has exhibited a significant reliance on the signals provided by Bitcoin in order to ascertain fluctuations, whether upward or downward, during the preceding several days. Nevertheless, a notable shift has transpired today, when the alternative cryptocurrency saw a significant surge. This rally may be attributed to a pivotal advancement inside the cryptocurrency realm that is associated with Ethereum.
BlackRock has submitted an application for the establishment of an exchange-traded fund (ETF) focused on Ethereum, a prominent cryptocurrency.
On Thursday, BlackRock, the largest asset management business globally, formally submitted an application to Nasdaq for inclusion in an Ethereum Exchange Traded Fund (ETF). The exchange-traded fund (ETF) has been filed and is now awaiting acknowledgement and approval from the Securities and Exchange Commission (SEC). This filing designates the ETF as Commodity-Based Trust Shares.

The preceding events were characterized by many hours of heightened anticipation among enthusiastic cryptocurrency investors who, upon becoming aware of the probable filing, engaged in significant trading activity that resulted in a surge in the Ethereum (ETH) market. BlackRock has initiated the process of registering the iShares Ethereum Trust in the state of Delaware, so mirroring the developments observed in the context of the spot Bitcoin ETF. Shortly after filing for a Bitcoin ETF, BlackRock proceeded to register for a Bitcoin spot ETF within a week.
Nevertheless, the grandeur of the event remained unaffected, since this development represents a significant milestone for Ethereum, after the Securities and Exchange Commission's endorsement of ETH Futures Exchange-Traded Funds earlier in the current year.
Nevertheless, the value of ETH is now seeing an upward trend in the market, perhaps leading to unforeseen developments among other cryptocurrencies.
The price of Ethereum experiences an upward trajectory.
At the present moment, the price of Ethereum has a tendency to surpass the $2,100 threshold, driven by the surge of confidence following the disclosure of the BlackRock spot ETF filing. The alternative cryptocurrency reached a peak that has not been seen in almost half a year.
Experiencing a surge of almost 10% within a single day, the cryptocurrency ETH successfully surpassed the significant threshold of $2,000. The current market conditions indicate a potential resurgence in the value of Ethereum (ETH), aiming to surpass its previous peak observed within the recent months. In order to generate profits, cryptocurrencies often require a stable growth in price. Given the recent breakthrough filing in the "home of DeFi," the possibility of a further price increase cannot be disregarded.

Currently, there is a lack of urgent indications pertaining to a price correction. However, in the event that the excessively hot market intersects with investors who are eager to capitalize on gains, it is plausible that the price of Ethereum might naturally see a decrease.
#etf #ethereum #Nasdaq

#BTC news updte :

Bitcoin Depot, the largest #crypto ATM provider in the United States, listed on #Nasdaq on July 3, 2023. The company's ticker symbol is "BTM."

The listing was made possible through a merger with special purpose acquisition company (SPAC) GSR II Meteora Acquisition Corp. The deal valued Bitcoin Depot at $885 million.

$BTC Depot has over 7,000 ATMs in 47 states and nine Canadian provinces. The company's ATMs allow users to buy and sell Bitcoin, Ethereum, and Litecoin with cash.

The listing on Nasdaq is a major milestone for Bitcoin Depot. It will give the company access to a wider pool of investors and capital. This will help Bitcoin Depot to expand its operations and reach new markets.

#dyor #SEC

$LTC $BNB

#crypto2023 Reported data shows that Bitcoin’s value increased by 83.8% in the first half of 2023, ranking first and exceeding other major world assets by a significant margin. In the second position is the #Nasdaq index, whose value increased by 31.7%. A 37% drop in value puts natural gas in the bottom position following the fall in the prices of other energy sources.

Data shows that in the first half of 2023, Bitcoin increased by 83.8%, ranking first, far exceeding other major assets in the world. The Nasdaq index rose 31.7%, ranking second, and other major national stock markets rose. The price of natural gas fell by 37%, ranking the… pic.twitter.com/bou05S8aH0

— Wu Blockchain (@WuBlockchain) July 2, 2023

Bitcoin’s trajectory for 2023 has been clear and with a bullish undertone. The flagship #cryptocurrency kicked off the year with a strong bullish sentiment. The bitcoin price rose by 47% within the first month of the year, setting the tone for the following weeks.

The cryptocurrency’s rise was characterized by typical declines, with support and resistance levels impacting the price change. Bitcoin’s price dropped to $19,569 in March after climbing over $25,000 for the first time since August 2022.

Many Bitcoin analysts identified the climb above $25,000 as a significant move to confirm the end of the bear market. Despite the pullback after that, the majority of Bitcoin’s proponents considered it a consolidation and an accumulation opportunity. That belief was supported by the anticipation of a bull run ahead of the next Bitcoin halving, which comes up in 2024.

Another phase of the bullish #trend returned to the Bitcoin market in the middle of March. Bitcoin gained over 58% in about four weeks during that period, as the price surpassed the $30,000 level for the first time since June 2022.

BTCUSD Weekly Chart on TradingView

After that surge, Bitcoin entered into another consolidation, pulling back toward the $25,000 support region. After reaching a local low of $24,756, the bullish momentum returned, with the price returning above the $30,000 price level.

Data from TradingView shows that Bitcoin’s price at the end of June was $30,469, marking a yearly gain of over 83%. Bitcoin traded at $30,503 at the time of writing, with the positive momentum still intact.

#Binance