This filing is for the creation of iShares Ethereum Trust. This is an ETH ETF focused on holding Ethereum in exchange for shares issued by the trust.
Investors will note that this isn’t the first time that BlackRock has launched a crypto ETF. The company also operates an ETF for Bitcoin (BTC-USD) that it filed for back in June.
BlackRock’s push into the crypto space with these ETFs is acting as a morale boost to the market. That makes sense, considering it is among the largest investment companies in the world, with nearly $10 trillion in assets under its control.
ETH Crypto Reactions Today
Following news of the BlackRock ETH ETF, Ethereum is up 1.1% over the prior 24-hour period as of Thursday morning. Trading volume over that same period of time is up 5.4%, as today’s news puts an extra spotlight on ETH tokens.
While Ethereum went through a rough patch in 2022, 2023 has been a success for it so far. The crypto token’s shares have climbed 66.9% higher over the last 12 months.
Investors who are looking for more of the latest market news will want to keep reading!
We have all of the hottest market news that traders need to know about on Thursday! That includes everything happening with Solana (SOL-USD), Nio (NYSE:NIO) and Plug Power (NASDAQ:PLUG) today. All of that news is available at the following links!
More Thursday Stock Market News
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- Citi Is Souring on Plug Power (PLUG) Stock
- Why Is Augmedix (AUGX) Stock Down 27% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.