Asset giant BlackRock once again caused a stir yesterday when the sharp-eyed Twitter account @SummersThings discovered that BlackRock has registered an “Ether Spot ETF” in Delaware. Bloomberg ETF analyst James Seyffart later confirmed that BlackRock, along with the exchange Nasdaq, has submitted an application!
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ETH Soars on 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 is still rising, reaching $2,121 at the time of writing. The 24-hour increase is as high as 12%.
Source: Binance
As early as early September when everyone was still discussing a Bitcoin Spot ETF, Ark Invest collaborated with 21Shares and submitted an application for an Ethereum Spot ETF. Another market pioneer, VanEck, submitted an S1 application for an Ethereum Spot ETF in May 2021. Then, the exchange Cboe BZX, with which it collaborated, submitted a 19b-4 form on September 6.
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Ark Invest Challenges the SEC Again, Submits ARK 21Shares Ethereum Spot ETF Application
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Afterwards, there were successive changes in strategy applications from Hashdex, Invesco Galaxy Ethereum ETF, and Grayscale’s Grayscale Ethereum Trust (ETHE). And then there was BlackRock’s iShares Ethereum Trust that shook the market last night!
According to data compiled by Chain News, VanEck, Ark 21Shares, and Invesco Galaxy were all assigned longer review deadlines by the SEC in early October, while the review periods for Hashdex and Grayscale’s transformation will fall on November 17, coinciding with the first window for a Bitcoin Spot ETF!
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Bitcoin Spot ETF Update: November 17 is the First Opportunity, with a 90% Chance of Approval by January Next Year
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However, BlackRock’s documents have not yet appeared in the Federal Register.
BlackRock
Ether Spot ETF
Ark Invest
Further Reading
Bitcoin Spot ETF Update: SEC Holds Intensive Meetings with BlackRock and Others, Remains Optimistic about January 10 Approval Deadline
Fidelity Bitcoin Spot ETF Process Chart: Understanding the Physical Operation Model that the SEC is Focused on