BlackRock, the leading global investment management corporation, has made yet another significant move in cryptocurrency by filing an S-1 application for a spot Ethereum ETF with the U.S. Securities and Exchange Commission (SEC). This application marks a pivotal step in the process of listing the ETF.
The proposed Ethereum ETF, named the iShares Ethereum Trust, is a clear signal of BlackRock’s confidence in the future of Ethereum as an investment asset. This ETF will expose investors to Ethereum without the complexities of direct cryptocurrency ownership. Managed by iShares Delaware Trust Sponsor LLC, the ETF is set to reflect the performance of Ethereum’s price before expenses and liabilities.
The trust structure of the ETF is meticulously laid out and governed by the Amended and Restated Trust Agreement. The trust will issue shares representing fractional undivided beneficial interests in its net assets, primarily consisting of Ethereum held by a custodian. The custodian’s primary role is to ensure the safekeeping of Ethereum assets, crucial for the trust’s operation.
Regarding public offering, the Trust plans to offer shares continuously, but it reserves the right to suspend issuances at any time. This flexibility allows for adaptation to changing market conditions. The shares will be listed and traded on NASDAQ under a yet-to-be-announced ticker symbol. BlackRock’s intention to make Ethereum more accessible to investors is evident in this move, as it allows for trading through traditional securities brokerage accounts.
Naturally, the move by blackrock
Meanwhile, the Ethereum market is already showing enthusiasm for the new development. When writing, the second-largest cryptocurrency was worth $2,166 and has increased 1.1% in the past hour.
In a strategic financial move, Metaplanet has fully repaid its ¥2 billion in zero-interest bonds…
The Pi Network community feels both frustrated and hopeful as Pi Coin’s price keeps changing.…
After Bitcoin took a nosedive to $74,500 following Donald Trump’s tariff tensions, the shockwaves hit…
Metaplanet has made a major financial move, fully redeeming ¥2 billion ($13.69M) in bonds, leaving…
Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…
The wider crypto market continued with bearish sentiment as the New York traders began their…