Asset management giant BlackRock has further solidified its plans to launch an exchange-traded fund (ETF) for Ethereum.

In a filing with the Nasdaq stock exchange on Thursday, BlackRock outlined its proposal for an “iShares Ethereum Trust” that would allow investors to gain exposure to Ethereum’s price movements through a traditional stock exchange.

The price of Ethereum jumped 10 percent following the news, blowing past $2,100, a threshold not seen since April, according to CoinGecko. Indeed, the last time ETH was this high was in May 2022, during the long crash that began in November 2021.

ETH is now up more than 30% for the month, and a solid 85% up over one year ago.

The filing comes as BlackRock also registered a trust for Ethereum in Delaware, a move analysts saw as a precursor to applying for regulatory approval of an ETF.

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Author: Ryan Ozawa

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