Ethereum Futures ETFs Falter Following Launch, Sparking Concerns For Bulls

Investment Giant BlackRock Seeks to Enter ethereum Space

The price of ether surged past $2,000 today, as the news broke that BlackRock, the world’s largest asset manager, submitted a filing for an iShares ethereum Trust in Delaware. This news comes after the manager registered a similar entity for bitcoin 7 days prior to applying for a spot bitcoin ETF. The iShares ethereum Trust filing by BlackRock has raised hope among ether enthusiasts, who are still awaiting a spot-price ethereum exchange-traded fund (ETF).

BlackRock’s ethereum Filing

The filing by an entity called BlackRock Advisors notes the managing director, Daniel Schwieger, as the registered agent. This news follows the company’s previous filing for a spot bitcoin ETF. Investors are closely watching the news as BlackRock’s registration for a BTC ETF caused a stir in the market, however, it did not guarantee a regulatory nod. Bloomberg ETF Analysts observed that the SEC has a brief window of opportunity to approve all 12 bitcoin ETF filings.

Ether Rockets Past $2,000

ethereum has surpassed the $2,000 mark for the first time in 4 months. The rally was part of the broader uptrend in the crypto market, as bitcoin also surged past $36,000. As a result, ether is now trading at $2,034.23, a 7.2% increase over the last 24 hours and a 12.3% jump over the past week. Despite today’s surge, the coin is still down 58.62% from its all-time high of $4,878 from November 2021.

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