• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / ETF: BlackRock Takes Steps Toward Ethereum Listing on Nasdaq
ETF

ETF: BlackRock Takes Steps Toward Ethereum Listing on Nasdaq

November 17, 2023 by Mohammad Ali

In a significant move on November 9, BlackRock, the world’s largest asset manager, introduced a spot in the Ethereum ETF. The company formally registered the iShares Ethereum Trust fund with Delaware’s Division of Corporations on the specified date.

Simultaneously, Nasdaq submitted a proposal for a rule change to the U.S. Securities and Exchange Commission (SEC) in connection with BlackRock’s potential spot Ethereum ETF. This regulatory filing outlines Nasdaq’s intention to list and trade shares of the exchange-traded fund, pending approval.

ETF Consisting of ETH

According to Nasdaq’s filing, the underlying trust of the exchange-traded fund will consist of Ethereum (ETH) held by a custodian, with major cryptocurrency firm Coinbase fulfilling this role. The filing also addresses regulatory concerns, including the necessity for surveillance-sharing agreements and the potential risk of market manipulation.

The announcement has impacted the cryptocurrency market, with Ethereum (ETH) and Bitcoin (BTC) witnessing notable price increases since November 9. As of November 12, Ethereum (ETH) has surged by 8.5% over the past week, while Bitcoin has seen a 5.9% increase during the same period. Several other tokens have also experienced positive gains.

BlackRock’s recent filing for a spot Ethereum exchange-traded fund closely follows its application for a similar Bitcoin exchange-traded fund in June 2023, which is still pending approval. FOX Business correspondent Charles Gasparino has hinted at BlackRock’s confidence in obtaining approval for the Bitcoin ETF by January 2024.

The potential approval of any spot crypto exchange-traded fund in the U.S., whether for Bitcoin or Ethereum, would represent a significant milestone. Such ETFs enable traditional investors to invest indirectly in cryptocurrency, eliminating the need to navigate on-chain fees, retail exchanges, or standard crypto wallets.

While hopes are high for introducing a spot crypto exchange-traded fund, it’s important to note that the SEC has not yet approved any such ETF. However, the regulatory body has approved various crypto futures ETFs in the past.

Filed Under: News Tagged With: Bitcoin, Bitcoin (BTC), Cryptocurrency, ETF

Primary Sidebar

Recent Posts

  • Avalanche DeFi’s $8.5M Heist: Court Acquits “Ethical Hackers” December 4, 2023
  • Ex-Binance CEO CZ Shares His Bitcoin Success Story Amid Legal Woes December 4, 2023
  • Crypto Lawyers Call For Ethical Conduct Amid SEC Criticism: Report December 4, 2023
  • Altify Merges Crypto And Other Alternative Assets To Empower Investors December 4, 2023
  • Bitcoin’s $600 Million Liquidation Frenzy: A Shockwave In Cryptocurrency Markets December 4, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.