BlackRock has reportedly registered an Ethereum trust in the state of Delaware, signaling a potential move towards an Ether (ETH) spot exchange-traded fund (ETF). This development follows BlackRock’s registration of a similar Bitcoin (BTC) trust in June, just before filing with the United States Securities and Exchange Commission (SEC) for a Bitcoin ETF.
The Ethereum trust was registered by the state’s Division of Corporations on November 9, with Daniel Schweiger listed as the registered agent at BlackRock’s address in Wilmington, DE. According to LinkedIn, Schweiger is a managing director at BlackRock. This move suggests that BlackRock may be taking concrete steps toward offering an Ethereum-focused investment product.
As a result of this news, the price of ETH has risen by 5.77%. However, BlackRock has declined to comment on these developments in response to inquiries from Cointelegraph. This is a developing story, and further information will be added as it becomes available.
It is worth noting that the registration of an Ethereum trust by BlackRock could potentially pave the way for an Ether spot exchange-traded fund (ETF) in the future. This comes on the heels of the company’s previous registration of a Bitcoin trust and its subsequent filing for a Bitcoin ETF with the SEC. The addition of an Ethereum-focused investment product could signal a significant shift in the mainstream adoption and acceptance of digital assets.
The registration of the Ethereum trust in Delaware, along with the involvement of a managing director at BlackRock, points to a strategic and deliberate move towards offering an Ethereum investment vehicle. The rise in the price of ETH following this news reflects the market’s optimism about the potential for an Ethereum ETF.
As the story develops, it will be interesting to see how BlackRock’s involvement in the Ethereum market continues to unfold and whether it ultimately leads to the approval of an Ether spot exchange-traded fund.