Following BlackRock’s official filing of Spot Ethereum with Nasdaq, reports have confirmed that BlackRock’s Ether ETF plan has been confirmed by Nasdaq and is on its way to the US SEC to gain final approval.
BlackRock Ethereum Spot ETF Confirmed
American multinational investment company, BlackRock has been making waves in the crypto space after news spread of NASDAQ listing the investment firm’s Ethereum Spot ETF, iShares Ether Trust in Delaware.
While BlackRock’s Spot Bitcoin ETF proposal remains to be approved by the United States Securities and Exchange Commission (SEC), the $9 trillion asset management company has placed its focus on Ethereum Spot ETFs while it waits for the SEC’s final decision on Spot Bitcoin ETFs.
The news of the Nasdaq Ethereum ETF filing comes as a major development for BlackRock’s move into the ETF world. Although the investment company remains tight-lipped on the ETH ETF reports flowing through the space, the possibility of an Ether Spot ETF approval could be a sign of the SEC’s approval of Spot Bitcoin ETFs in the future.
However, in the case the regulatory body does approve the asset management company’s Ethereum Spot ETF, the SEC could be faced with potential contradictions in its decision-making processes. The acceptance of ETH Spot ETFs would stand in stark contrast to the previous disapproval of Spot Bitcoin ETFs.
ETH Price Skyrockets
ETH bulls retest $2,100 | Source: ETHUSD on Tradingview.com
Featured image from BlockWorks, chart from Tradingview.com