BlackRock, the world’s leading asset management firm, has officially filed an application with the U.S. Securities and Exchange Commission (SEC) to create an Ethereum spot exchange-traded fund (ETF). The ETF, called iShares Ethereum Trust, aims to track the price performance of Ethereum. This move marks a significant step for BlackRock in expanding its ETF range. The company has also appointed Coinbase Custody Trust Company as the custodian for its proposed Ether ETF. The ETF will use the CME CF Bitcoin Reference Rate from CF Benchmarks as its benchmark, aligning with BlackRock’s approach for its planned spot Bitcoin ETF. The announcement had an immediate impact on the market, with the price of Ether rising by about 2%. BlackRock is also waiting for the SEC to approve its iShares Bitcoin Trust application. The anticipation of an approved Bitcoin ETF has boosted Bitcoin’s price recently. Overall, BlackRock’s foray into the cryptocurrency market reflects the growing interest in digital assets among institutional investors.

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Information	Details
Geography	Global
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Larry Fink
Companies	Kraken, Coinbase Custody Trust Company, Nasdaq, Jane Street, Virtu Financial, CF Benchmarks, Depository Trust & Clearing Corp, U.S. Securities and Exchange Commission, CME CF Bitcoin Reference Rate, Delaware State Department’s Division of Corporations, BlackRock, Jump Trading, iShares
Currencies	Ethereum, Bitcoin
Securities	None