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Asset manager BlackRock has filed for a spot Ethereum (ETH) exchange-traded fund (ETF), propelling the price of ETH past $2,100. 

BlackRock has yet again made waves in the exchange-traded fund (ETF) space by filing for a spot Ethereum (ETH) ETF. On Thursday, BlackRock submitted a proposal with the Nasdaq stock exchange outlining its plans for an “iShares Ethereum Trust.” 

ETH Gains 10% Thanks to BlackRock

If approved, the iShares Ethereum Trust would allow investors to gain exposure to ETH’s price movements via a traditional stock exchange without directly owning the asset. Approving a spot ETF, whether it be Bitcoin or Ethereum, would pave the way for billions of dollars of new investment in the crypto space. 

Ethereum’s price rocketed 10% in response to the news and now trades above $2,100.

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Author: Jana Serfontein

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