Ethereum News Daily TheBitTimes.com

BlackRock, one of the world’s biggest asset managers, officially filed its Spot Ethereum ETF with Nasdaq today. The company’s plan was revealed in a filing by the U.S. exchange where BlackRock will seek to list the product. JUST IN: $9 trillion asset manager BlackRock officially files for Spot Ethereum ETF with Nasdaq. — Watcher.Guru (@WatcherGuru) November 9, 2023 Early Thursday afternoon, BlackRock registered its iShares Ethereum Trust in Delaware. A Spot Ethereum ETF , like BlackRock’s pending Spot Bitcoin ETF , will need regulatory approval by the SEC. Spot ETF s dramatically broaden access to crypto for average investors, which has been a growing mission amongst asset managers like BlackRock, Grayscale, and others for months. However, the SEC has been avidly battling against it. Bloomberg analyst Eric Balchunas calls the iShares Ethereum trust the “first step towards filing for a spot Ether ETF .” Now, the next step has been t...

ProShares' SETH ETF will start trading soon, following the first Ethereum futures ETFs by about two weeks. ProShares introduced a trio of Ethereum futures ETFs in the recent weeks. Presently, the company is gearing up to provide a distinctive offering. ProShares' Short Ether Strategy ETF (SETH) from the fund group is poised to commence trading shortly, following the debut of the initial Ethereum futures ETFs by about two weeks. SETH, scheduled for listing on the NYSE Arca exchange, aims to achieve daily investment outcomes that mirror the inverse of the daily S&P CME Ether Futures Index performance, as indicated in a filing made on Friday, Oct. 13. The fund does not engage in direct shorting of ether (ETH); rather, it seeks to capitalize on potential declines in the asset's value, as stated in the prospectus. On Friday, the price of ETH stood at approximately $1,540, reflecting a decrease of approximately 6% over the past week. Screenshot of the ProShares SETH filing  ...

Despite BlackRock’s application for a Bitcoin spot ETF, its approval remains uncertain, with the SEC favoring another futures-based Ether ETF. The race to list the first spot-traded Bitcoin (BTC) exchange-traded fund (ETF) in the United States has seen the entrance of major financial institutions like BlackRock, Fidelity and VanEck.  While the U.S. Securities and Exchange Commission (SEC) first approved a Bitcoin-linked Futures ETF in October 2021, the current filing s are for spot Bitcoin ETFs. Following Grayscale’s recent legal victory against the SEC’s review of its spot Bitcoin ETF proposal, many now believe approval of the investment funds is more likely. The interest of BlackRock — the world’s largest asset manager with over $8 trillion worth of assets under management — prompted several other institutions to refile for a spot Bitcoin ETF. Most of these asset managers had to either withdraw their spot Bitcoin ETF filing s or face rejection due to the SEC’s reservations concerni...