Yes: everything is true. BlackRock will have its own Ethereum Spot ETF. That changes everything – and we’ll tell you why.
It’s official: BlackRock will try to launch Ethereum Spot ETFan investment tool that will have in it Real Ethereum and it will be there copy from that on Bitcoin which should be on its way now. The news came completely unexpectedly: yesterday afternoon we recorded the birth of a confidence in Delaware for that purpose and a few hours later one of the two applications needed to obtain approval arrived.
This is excellent news for Ethereum, which exceeded the quota by taking it over 2100 dollarsand which could still significantly change the cards on the table in terms of functioning Ethereum. We’ll provide an in-depth summary of that in this special, then continue in a dedicated guide you’ll find on the site in a few days and space on x Wednesday, November 15 at 9 p.m.
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Ethereum ETF Spot: BlackRock’s filing is coming
For those who haven’t followed the BlackRock Bitcoin Spot ETF story, it will be time to give a quick summary of what’s going on in the trading space. Ethereumconsidering that late yesterday evening the same manager sent a submission seeking approval for a similar product.
It is the Ethereum Spot ETF. It is a unit investment fund whose shares can be traded on the stock exchange. In particular, such trades, if the ETF is approved, will take place on NASDAQ.
iShares, which is BlackRock’s ETF management subsidiary. It is the largest ETF manager in the world, which just a few weeks ago proposed a similar product on Bitcoin.
ETFs must be approved before they can be traded on the market. In the case of the United States, two are required submission, or sending two different documents. The first relates to exchange, which requires what technically a rule change enable product pricing. The second is the S1 form, which is sent by the administrator (iShares in this case) and contains all the details of the operation.
- What do we have to wait for now?
At least two things: the initial reaction from the SEC, which will most likely send comments for additional purposes about the product. And we will also have to wait, in our opinion, for the arrival of others managers which they might try to follow wake from BlackRock.
Highlights of the Ethereum Spot ETF
There are several interesting aspects – and perhaps more interesting than the Bitcoin Spot ETF. The first is that BlackRock overruled the judge’s decision in favor of Grayscale against the SEC. This decision rejects one of the doctrines that Gary Gensler’s agency has used to reject Spot ETFs in the past.
Another aspect that is interesting concerns the accumulation of ETH by ETFs. Ethereum works in Proof of stake for consensus, and holding Ethereum is therefore not neutral in relation to the functioning of the network. What would happen if ETFs accumulated a very significant amount of $ETH, assuming they invested?
Add a reminder: We’ll talk about this on Wednesday. Just as we will talk about the purely financial aspects of the whole affair. Yes, for the price of $ETH this is great news.