BlackRock Officially Files for Spot Ethereum ETF, ETH Price Eyes $2.1K

After a few weeks of speculation following the registration of the iShares Ethereum Trust in Delaware, BlackRock has filed the S-1 prospectus for the product with the SEC.

This is the second cryptocurrency-related exchange-traded fund that the company wants to launch after its spot Bitcoin ETF application.

• CryptoPotato reported last week when the largest asset manager registered a corporation named the “iShares Ethereum Trust” in Delaware, indicating its intentions to file for a spot ETF tracking the performance of the second-biggest cryptocurrency.
• Earlier today, the financial behemoth officially filed the S-1 prospectus with the United States’ securities regulator.
• As with the Bitcoin application, which was filed in June this year, BlackRock has named Coinbase as the Custodian for the underlying ETH.
• The filing doesn’t mention whether the Trust will actively be staking ETH and distributing dividends to shareholders from the yield.
• Recall that the iShares Ethereum Trust registration from last week had an instant impact on ETH’s price, which soared by $200 in hours. Now, though, the largest altcoin sits quietly at under $2,100 after a market-wide recovery within the past 24 hours.
• It’s also worth noting that while BlackRock had indeed filed for spot ETFs tracking BTC and ETH, the company refuted recent rumors that it had such intentions for a spot Ripple (XRP) ETF.
• This came amid reports that BlackRock had registered an XRP Trust in Delaware. The case was recently handed over to the local authorities.