BlackRock, the world’s largest investment manager, has applied to introduce an Ethereum Trust. It marks a significant stride in mainstream cryptocurrency adoption.

This development arrives amid heightened anticipation for the approval of BlackRock’s proposed spot Bitcoin ETF (exchange-traded fund), suggesting a bullish outlook on the future of the crypto market.

Institutions Can Get Ethereum Exposure

According to a recent filing, the iShares Ethereum Trust was registered in Delaware. The move was orchestrated with BlackRock’s managing director, Daniel Schwieger, at the application process’s helm.

Since the announcement, Ethereum’s value has surged past the $2,000 threshold, reflecting investor optimism spurred by BlackRock’s involvement.

BlackRock’s push into the cryptocurrency industry does not stop with the iShares Ethereum Trust. Earlier in the year, the investment titan submitted plans to launch a spot Bitcoin ETF in the US. It is currently under the scrutiny of the Securities and Exchange Commission.

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Author: David Thomas

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