BlackRock has filed a prospectus with the US Securities and Exchange Commission (SEC) for a spot Ether exchange-traded fund (ETF). The filing followed the registration of the name of the new offering and the application for the filing of an application seeking approval of the spot ETF by Nasdaq.

Following the submission of the S-1 form, Ether's (ETH) price surged 2% to $2,080, as reported by Coindesk. This reaction underscored the market's heightened sensitivity to ETF-related updates. It echoed the recent trend where court rulings against SEC rejections of spot crypto ETF applications have ignited optimism for future approvals.

BlackRock's foray into the cryptocurrency realm extends beyond Ethereum. The company is currently awaiting the SEC's approval on its proposed spot Bitcoin ETF, marking a significant expansion of its cryptocurrency offerings.

BlackRock Pushes for Spot Crypto ETFs

In June, BlackRock filed for iShares Bitcoin Trust ETF with the SEC. This step followed earlier rejections of spot Bitcoin ETF applications by the regulator. While launching its bid, BlackRock emphasized its commitment to democratizing investments in Bitcoin for institutional and retail investors.

Confirmed. Here’s a screenshot of this mornings iShares Ether ETF S-1 filing. Not a shocker tho as they had already filed 19b-4 for it last week. https://t.co/QSXxagwC99 pic.twitter.com/UxJ7y4YC8j

— Eric Balchunas (@EricBalchunas) November 16, 2023

Notably, BlackRock's proposed ETF is notable for its plan to leverage custodian services provided by Coinbase, ensuring secure storage for the Bitcoins held by the Trust. Besides that, the company intends to utilize the CME CF Bitcoin Reference Rate to track Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term prices. This metric is derived from a group of selected global cryptocurrency exchanges by CF Benchmarks, a subsidiary of Kraken.

While several companies, including Grayscale, VanEck, and WisdomTree, have previously applied for spot Bitcoin ETF approval, the SEC has remained cautious, rejecting multiple applications.

Shifting Crypto Investment Landscape

BlackRock is not the only asset management firm seeking the approval of a spot Ether ETF in the US. In August, Valkyrie Investments, headquartered in Tennessee, initiated the process of launching an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term Strategy ETF. Unlike conventional ETFs, this venture targets Ether futures and a diverse array of collateral assets.

Meanwhile, Q2 2023 witnessed a substantial surge in institutional investments within the cryptocurrency space, specifically in Bitcoin and Ether futures. This was boosted by the desire to manage risks and navigate market volatility.