BlackRock Launches iShares Ethereum Trust ETF

BlackRock, through its iShares brand, filed for the iShares Ethereum Trust ETF in Delaware on November 9, 2023, to offer regulated exposure to Ethereum, including staking features.

This move could potentially enhance Ethereum’s appeal to institutional investors, as indicated by a notable price surge following the filing. The ETF aims to provide convenient access to Ethereum’s staking benefits.

BlackRock Eyes Broader Access with Ethereum Trust ETF

BlackRock’s iShares brand registered the Ethereum Trust ETF, designed as a Delaware statutory trust. Offering regulated Ethereum exposure, it aims at providing both spot and staking-enabled options. This ETF will enable investors to benefit from Ethereum’s Proof-of-Stake yields. The ETH price surged ~8% to around $2,040 as investors reacted positively to the registration news. Major liquidity providers, such as Jane Street and Virtu, are anticipated to support BlackRock’s ETFs pending approval. This potential institutional support reflects broader enthusiasm for digital assets.

BlackRock’s iShares brand registered the Ethereum Trust ETF, designed as a Delaware statutory trust. Offering regulated Ethereum exposure, it aims at providing both spot and staking-enabled options. This ETF will enable investors to benefit from Ethereum’s Proof-of-Stake yields. The ETH price surged ~8% to around $2,040 as investors reacted positively to the registration news. Major liquidity providers, such as Jane Street and Virtu, are anticipated to support BlackRock’s ETFs pending approval. This potential institutional support reflects broader enthusiasm for digital assets.

“Our clients are increasingly interested in gaining exposure to digital assets through exchange-traded products (ETPs) which provide convenient access, liquidity, and transparency. Ethereum’s appeal lies in its decentralized nature and its potential to drive digital transformation in finance and other industries.” — Jay Jacobs, U.S. Head of Thematic and Active ETFs, BlackRock

Ethereum Staking and Market Dynamics in Focus

Did you know? The first U.S. ETF with native Ethereum staking rewards was REX-Osprey in early attempts, setting a precedent for BlackRock’s registration.

Ethereum (ETH), currently priced at $3,013.74, holds a market cap of $363.75 billion and market dominance at 11.71%, according to CoinMarketCap. Normally volatile, ETH’s price has decreased by about 3.25% over the last 24 hours, and by 32.79% in the last 60 days. Trading volume reached $39.84 billion today, highlighting investor activity around the ETF announcement. Coincu’s research suggests expanding Ethereum’s accessibility through ETFs will likely lead to increased mainstream interest and broader technological applications, stimulating ETH’s ecosystem development.

Coincu’s research suggests expanding Ethereum’s accessibility through ETFs will likely lead to increased mainstream interest and broader technological applications, stimulating ETH’s ecosystem development.