- BlackRock has filed an Ethereum ETF application with the United States Securities and Exchange Commission.
- The iShares Ethereum Trust will aim to mirror the performance of the price of Ethereum.
- BlackRock’s filing has sparked a bullish rally in the price of ETH.
The trillion-dollar U.S.-based asset manager BlackRock has officially submitted an Ethereum exchange-traded fund (ETF) application with the United States Securities and Exchange Commission (SEC).
In particular, BlackRock submitted a Form S-1 Registration Statement with the SEC on Wednesday, November 15, for an iShares Ethereum Trust. This development followed BlackRock’s filing for the corporation name “iShares Ethereum Trust” in Delaware a week ago.
According to the new statement submitted to the SEC, the Trust’s objective is to mirror the price performance of Ethereum, reflecting such performance before covering the Trust’s expenses and liabilities.
BlackRock has identified Coinbase (NASDAQ:COIN) Custody Trust Company as the custodian for Ethereum holdings. Moreover, the statement hinted at another custodian for cash holdings and the Trust’s administration.
Notably, the Trust plans to continuously i…
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