BlackRock Inc., the world’s largest asset manager, has filed an application with the U.S. Securities and Exchange Commission (SEC) for a spot Ether ETF, further expanding its footprint in the cryptocurrency sector. This move marks a significant step by BlackRock in capitalizing on the growing interest in Ethereum, the blockchain platform powering Ether, the second-largest cryptocurrency by market value.
The filing, as reported by sources, indicates BlackRock’s intention to launch a product that would enable investors to gain direct exposure to Ether’s price movements. Unlike previous cryptocurrency-linked ETFs, which primarily focused on Bitcoin, this product would be one of the first major ETFs in the United States centered around Ether.
BlackRock’s foray into Ether ETFs comes at a time when investor appetite for digital assets is expanding, with Ethereum recently undergoing a significant upgrade known as “The Merge.” This upgrade transitioned the platform to a proof-of-s
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