Six Major Institutions Rush to Launch Ethereum Spot ETF! BlackRock Joins the Battle as ETH Soars Above 2100

Asset giant BlackRock once again caused a stir yesterday when the sharp-eyed Twitter account @SummersThings discovered that BlackRock had registered an “Ether Spot ETF” in Delaware. Bloomberg ETF analyst James Seyffart later confirmed that BlackRock, along with exchange Nasdaq, had submitted an application!
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ETH Soars upon News, 24-hour Increase Reaches 12%
Six Applicants, Next Review Deadline on 11/17
After the news broke last night, ETH surged past $2,000 and continues to rise, reaching $2,121 at the time of this writing. The 24-hour increase is as high as 12%.
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Source: Binance
Back in early September, Ark Invest collaborated with 21Shares and submitted an application for an Ether Spot ETF while everyone was still discussing a Bitcoin Spot ETF. Another market pioneer is VanEck, which submitted an S1 application for an Ether Spot ETF in May 2021. The exchange it collaborated with, Cboe BZX, also submitted a 19b-4 form on September 6.
(
Ark Invest Challenges the SEC Again, Submits ARK 21Shares Ether Spot ETF Application
)
Afterward, Hashdex, Invesco Galaxy Ethereum ETF, and Grayscale’s Ethereum Trust (ETHE) successively applied for transformation. And then came BlackRock’s iShares Ethereum Trust, which shocked the market last night!
According to data compiled by ChainNews, VanEck, Ark 21Shares, and Invesco Galaxy were all given longer review deadlines by the SEC in early October, while Hashdex and Grayscale’s transformation review periods coincided with the following week of November 17. It coincides perfectly with the first window for a Bitcoin Spot ETF!
(
Bitcoin Spot ETF Update: November 17th is the First Opportunity, with a 90% Chance of Approval by January Next Year
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BlackRock’s documents have not yet appeared on the Federal Register.
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BlackRock
Ether Spot ETF
BlackRock
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Further Reading
Bitcoin Spot ETF Update: SEC Holds Meetings with BlackRock and Others, Remains Optimistic about January 10th Approval Deadline
Fidelity Bitcoin Spot ETF Process Flow: In-depth Understanding of the Physical Operation Model the SEC is Concerned About