Blackrock announces the filing of an Ethereum Trust ETF on Nasdaq and plans to enter the cryptocurrency spot market.

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In a significant development for cryptocurrency investment vehicles, Blackrock Inc., through its subsidiary Ishares Delaware Trust Sponsor LLC, filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list shares of Ishares Ethereum Trust on Nasdaq.

Blackrock Dives Deeper Into Crypto With Ethereum ETF Plan Aiming For Regulatory Clarification

After registering its Ishares Ethereum Trust with the Delaware Department of Business Registration, the world's largest asset manager filed a 19b-4 registration application with the U.S. Securities and Exchange Commission. This initiative could offer US investors a regulated spot exchange-traded fund (ETF) to track the price of Ethereum (ETH). The trust was designed to reflect the price performance of Ethereum, taking into account expenses and commitments.

The Ishares Ethereum trust

The proposed Ishares Ethereum Trust will issue shares representing fractional undivided shares of the trust's net worth, primarily composed of Ethereum, held by the Coinbase Custody Trust Company. The filing states that the ETF is intended to provide investment exposures to the price of Ethereum through the securities market, thereby circumventing the operational challenges of investing directly in cryptocurrency assets.

The net asset value (NAV) of the trust, which will be calculated each business day at the close of trading, will depend on the CF Benchmarks index, which compiles ETH trading data from several cryptocurrency exchanges in foreground.

Shares of the Ethereum Trust are continuously issued and repurchased in “baskets,” which are large blocks of shares traded for Ethereum. Only authorized broker-dealers can purchase or cash out these “baskets,” which could help reduce the volatility of premiums and discounts that are common in over-the-counter Ethereum funds.

Market reaction and regulatory context

After the ETF news on platforms like The price rose from $1,885 to a peak of $2,135 per Ethereum around 7 p.m. Eastern Time on November 9, 2023. Blackrock's filing follows similar filings with the SEC for ETFs d ‘Ethereum based on the spot, filed by Ark Invest, 21shares and Vaneck.

Blackrock's ETF proposal comes against the backdrop of the SEC's recent approval of Ethereum-based futures ETFs and ongoing discussions over the regulation of spot Bitcoin exchange-traded products (ETPs). The filing highlights Blackrock's ETF strategy to reduce the risk of losses due to fraud or insolvency that investors may be exposed to by holding digital assets on centralized exchanges.


Blackrock's submission to the Ishares Ethereum Trust highlights growing mainstream interest in cryptocurrencies. The creation of a regulated Ethereum ETF would be an important step for the industry and could help boost investor confidence in the cryptocurrency market. It remains to be seen how regulators will respond to these demands, but it is clear that the institutionalization of cryptocurrencies is progressing inexorably.

What do you think of Blackrock’s submission for the Ishares Ethereum Trust? Share your thoughts and opinions on this topic in the comments section below.