In a new filing (PDF) with the NASDAQ, asset management giant BlackRock has revealed plans to launch an exchange-traded fund (ETF) based on the cryptocurrency Ethereum.
Keypoints
- BlackRock has filed with the SEC to launch an Ethereum ETF that would hold ether. This follows the company’s previous filing for a bitcoin ETF.
- The Ethereum ETF would be listed on Nasdaq under the iShares brand. Coinbase would be the custodian holding the ether.
- CEO Larry Fink has become a vocal crypto supporter after previously being skeptical. Launching crypto ETFs broadens access for average investors.
- The filing tries to address potential SEC concerns about market surveillance by arguing that CME’s ether futures prices closely track spot ether prices.
- The price of ether jumped after the news, topping $2,000 for the first time since April. This mirrors bitcoin’s rise when ETF filings started over the summer.
- The SEC has not yet…
