BlackRock plans to create ethereum ETF, Nasdaq filing shows (NYSE:BLK)
11/10/2023 05:08
BlackRock plans to launch an exchange-traded fund (ETF) holding ethereum, indicating its commitment to crypto as ethereum surges in value.
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BlackRock (NYSE:BLK) is planning to create an exchange-traded fund that holds ethereum (ETH-USD), according to a Thursday filing by Nasdaq (NDAQ).
Ethereum (ETH-USD) itself is surging as BlackRock (BLK) seeks to broaden its commitment to crypto, up 9% to $2.06K -- the highest level since mid-April.
Bitcoin (BTC-USD) also posted solid intraday gains, at one point jumping past the $37K mark, as optimism around an approval for a U.S. ETF to invest directly in the highest-profile crypto asset continued to intensify.
Recall that BlackRock (BLK) is one of the assets managers seeking to list a spot bitcoin (BTC-USD) ETF, that, in turn, could widen access to crypto to retail investors.
The firm's plan was seen in a filing by Nasdaq (NDAQ), where BLK wants to list the ether ETF.