The post BlackRock Files S-1 for Ethereum Spot ETF! appeared first on Coinpedia Fintech News
BlackRock has taken a significant step towards launching an Ethereum spot ETF in the US. The company submitted an S-1 application to the Securities and Exchange Commission (SEC) on November 15, marking a crucial milestone in the listing process. BlackRock’s proposed Ethereum spot ETF, which was previously submitted by Nasdaq to the SEC, aims to provide investors with direct exposure to the price of Ethereum. This move by BlackRock could potentially open the door for more institutional investors to enter the cryptocurrency market, as the company’s size and reputation could lend credibility to the nascent asset class. The SEC has yet to approve any spot Bitcoin ETFs, and it remains unclear whether it will greenlight BlackRock’s Ethereum proposal.